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Inquiry: My understanding is that free markets work in a setting with informed consumers who can make educated choices between competing services. Is my unders

• barry-cotter 5y ago
  It can be proven that they work perfectly, i.e. cannot be improved on, under certain strong conditions. They work less than perfectly otherwise. But most markets are never near those conditions and empirically work quite well for the set of thick, widely traded markets with good[1] information. [1] Not perfect