2 ms·
it presumes some huge things. like, that selling light bulbs that expire in weeks is better for the supply curve. or presumes that workers might never beat th
by 1oooqooq 2y ago
it presumes some huge things.
like, that selling light bulbs that expire in weeks is better for the supply curve.
or presumes that workers might never beat the prisoners dilemma and the central banks will always keep the correct unemployment rate.
or that consumers will never make any informed purchase and will always drive process to bottom for a good demand curve.
etc.
the thing is, it works very well, because the system accepted that dogma just like feudalism accepted looks were ordained from god, despite having to hold an army to keep god's word... so the models work, but you must accept the whole theology, which is never mentioned in any level of economics (well, it's briefly mentioned as tools in development economy)
- giantg2 2y agoNone of those things are universally true. For example, you don't have to race to the bottom for demand. Luxury products and branding are extremely obvious counter examples.
- huitzitziltzin 2y agoNo offense intended, but your comment reads a bit like a word salad of some economics concepts which you likely don’t fully understand. - “presumes that workers might never beat the prisoners dilemma” - that has nothing to do with demand curves. I have no idea what you are talking about. - “[presumes??] that consumers will never make any informed purchase” - nothing of the sort is true. - “selling light bulbs that expire in weeks is better for the supply curve.” What??