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The theory of capitalism leading to efficient markets makes a great deal of assumptions that are simply not true in the real world. Even for elastic goods that
by plagiarist 2y ago
The theory of capitalism leading to efficient markets makes a great deal of assumptions that are simply not true in the real world. Even for elastic goods that nobody needs to participate in at all, let alone an inelastic good like healthcare where people will pay pretty much anything for themselves or their family members to continue living.
- conception 2y agoPeople also equate capitalism with free markets and attribute a lot of the success of capitalism mistakenly because of it.
- Jcowell 2y agoI think it’s true , it just that sometimes companies become the market
- ljm 2y agoThe concept of perfect competition describes what capitalism in its purest, most ideal form should be, and everything after that is a description of what happens when humans get involved.
- conception 2y agoThat’s free markets. Capitalism just means private people control the capital, rather than the state. Beyond that and you’re in different forms of capitalism. There’s no requirement of competition.