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That works in a well functioning, liquid market. If there are barriers to entry for new competitors (like regulatory hurdles, or zoning), this free-market theor
by medvezhenok 2y ago
That works in a well functioning, liquid market. If there are barriers to entry for new competitors (like regulatory hurdles, or zoning), this free-market theory falls flat on its face.
- nilsbunger 2y agoThe free market theory still works with the barriers, it’s just that the “excess profits” have to get even higher before someone steps in to build.