2 ms·
"Trade only happens if its mutually beneficial for BOTH parties" That is not true. People often trade out of need, and a lot of time, desperation. It is not mu
by vinhboy 14y ago
"Trade only happens if its mutually beneficial for BOTH parties"
That is not true. People often trade out of need, and a lot of time, desperation. It is not mutually beneficial. That notion is so wrong I am not sure how to begin refuting it.
- jordan0day 14y agoMutually beneficial does not mean "perfect". Lots of trade may be unfair, especially in hindsight, but at the time the trade occurred, each party sees benefit in the trade. Otherwise, why would they trade?
- trhtrsh 14y agobecause they are forced into a series of incremental trades that are not globally optimal across a lifetim, and cannot do things like borrow now and pay back later at mutually profitable rates, due to lender uncertainty.