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Externalize your costs, internalize your profits, build moats, gain cartel power, seek rent. These are the goals of any "free market" company. One of my great
by AtlasBarfed 1y ago
Externalize your costs, internalize your profits, build moats, gain cartel power, seek rent.
These are the goals of any "free market" company.
One of my great critiques of capitalism and the economic analysis of it is that all the economists seem to believe that every company wants to happily exist in a open market with lots of competitors optimizing entirely working to reduce costs for the consumer.
All you have to do is read my first paragraph and to see how utterly fantastical that notion is, and why regulation is needed to counteract every one of those simple game theory power politics end goals
- nine_k 1y agoParadoxically for some, the state's power is needed to keep the markets free and competitive. An obvious example is the protection of property, hence state-financed police and courts. A slightly less obvious, but as important, are anti-monopoly protections. Game theory should be taught much wider, I agree.