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I fail to see what the idle rich have to do with supply/demand. Vulture capitalists buying and breaking up companies is very much in line with supply/demand (i
by rmah 2y ago
I fail to see what the idle rich have to do with supply/demand. Vulture capitalists buying and breaking up companies is very much in line with supply/demand (in the financial markets). As are non-competes (malicious or otherwise) which directly effect the supply of skilled labor. Discrimination based on non-utility factors directly influences supply/demand and thus influence prices of all sorts of things.
Economic theory around supply & demand simply describe how economies work. It does not imply that it will lead to a better life for all. In short, the "law" of supply & demand is about price discovery and resource allocation efficiency. It has no moral or ethical component that you seem to feel it implies.
- WalterBright 2y agoWhat the breaking up of companies does is reallocate the resources of an inefficient company to more efficient uses. Free markets are not steady state - they are a chaotic system constantly creating, disassembling, and reallocating resources.