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I think you could argue that competition indeed makes the market efficient, but that we shouldn't conflate that with capitalism itself. Capitalism, in my opinio
by koe123 2y ago
I think you could argue that competition indeed makes the market efficient, but that we shouldn't conflate that with capitalism itself. Capitalism, in my opinion, can at times prevent competition due to the required capital investment to compete. E.g. even OpenAI with their golden bullet couldn't get there without the capital investments from big tech? Might be wrong here of course.
- resource_waste 2y agoI specifically mentioned Capitalism because it required the investment. It was Capitalism, not market efficiency.
- koe123 2y agoFair enough!