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You're not wrong. Its also worth pointing out that 'the market' memes that people lean on have other requirements; the most crucial is buyers and sellers havin

You're not wrong. Its also worth pointing out that 'the market' memes that people lean on have other requirements; the most crucial is buyers and sellers having equal power, which the labor market immediately discards, by dint of the relative urgency and immediate outcomes of failing to make a deal on the market. A person selling labor has to balance their price against the urgency to secure food, shelter, and access to medical care. A company buying labor can frequently afford to wait months or even years and it may not even make sense for them to hire some one at market rate - the more you pay someone the more others expect to be paid and the more they expect to see their own salary grow. It's something to reflect on when people think companies are behaving stupidly for having interview processes that leave unfilled positions for months - the buyers on the market have fewer and different pressures than the sellers, maybe what they are doing isn't stupid just inhuman.

pierat 3y ago
> Its also worth pointing out that 'the market' memes that people lean on have other requirements; the most crucial is buyers and sellers having equal power, which the labor market immediately discards, by dint of the relative urgency and immediate outcomes of failing to make a deal on the market. It absolutely does. And having actually read Adam Smith's "An Inquiry into the Nature and Causes of the Wealth of Nations", most types here usually stop at chapter 2. There's so many caveats that Smith wrote about with Capitalism, and they're mostly just ignored, or swept like an externality under the rug for someone else to clean up. But again, that's the point of not reading/ignoring past chapter 2. It's also why I read all of it, to understand why I disapprove of it, and other systems that may be better. But, no system yet can handle that digital and intellectual things cost a lot once, but free for ever after creation.

pierat 3y ago

> Its also worth pointing out that 'the market' memes that people lean on have other requirements; the most crucial is buyers and sellers having equal power, which the labor market immediately discards, by dint of the relative urgency and immediate outcomes of failing to make a deal on the market. It absolutely does. And having actually read Adam Smith's "An Inquiry into the Nature and Causes of the Wealth of Nations", most types here usually stop at chapter 2. There's so many caveats that Smith wrote about with Capitalism, and they're mostly just ignored, or swept like an externality under the rug for someone else to clean up. But again, that's the point of not reading/ignoring past chapter 2. It's also why I read all of it, to understand why I disapprove of it, and other systems that may be better. But, no system yet can handle that digital and intellectual things cost a lot once, but free for ever after creation.