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Pencils here are a bit like grains. The market works for them because they fall into such a niche that economic "laws" works there. But it's a fallacy to apply
by gf000 1y ago
Pencils here are a bit like grains. The market works for them because they fall into such a niche that economic "laws" works there.
But it's a fallacy to apply it elsewhere and there are millions of examples where the free market failed to optimize a product.
- philipallstar 1y agoI don't agree. Loads of things are like this. Cars, microchips, hard drive storage, monitors, TVs, laptops. All either much better than they used to be, or much cheaper, or both.