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Econ 102 taught me most markets are not perfectly competitive and how to measure monopolistic control over markets. That and how to measure value each country g
by mason_mpls 1y ago
Econ 102 taught me most markets are not perfectly competitive and how to measure monopolistic control over markets. That and how to measure value each country gets from trading goods based on specialization.
This is conspiratorial anti science rhetoric, any econ student will tell you isn’t the case.
- littlestymaar 1y ago“Most market are not perfectly competitive” is the econ version of “the earth is not perfectly flat”. When you say something preposterous in the first place, saying “it's not perfectly accurate” a bit later is never going to be enough.
- mason_mpls 1y agoI opened with that because the person I’m replying to is claiming Econ is libertarian-esque propaganda
- littlestymaar 1y agoYou are mixing things up: - libertarianism derives from a fringe branch of economics (the Austrian school) which is an heterodoxy. - but mainstream economics, the classical branch then the neoclassical synthesis, is nonetheless heavily ideological (markets being seen as inherently good, even though they are often imperfect in the real world). And when you have a clique going as far as making their own apocryphal “Nobel prize” in order to promote their views and establish scientific credibility to political leaders, calling it “propaganda” is not entirely unwarranted.