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> under the assumption the other player is a selfish dickhead. In a capitalist environment like America's, with no social controls or other factors besides ruth
by dabernathy89 12y ago
> under the assumption the other player is a selfish dickhead. In a capitalist environment like America's, with no social controls or other factors besides ruthless logic, this is the default behavior.
Sigh. One of the most prominent features of capitalism is that it relies on mutually beneficial exchanges.
- dropit_sphere 12y agoThat's the theory. The implementation must take into account search costs and due diligence costs. In a low-trust society due diligence costs rise, dramatically shrinking the number of possible exchanges, which then raises search costs, shrinking possible exchanges all the more.
- ep103 12y agoIdeal capitalism. Much of modern capitalism is about getting the person on the other side of the table into a desperate enough situation, that they have to take your 'mutually beneficial' offer. I present as Exhibit A Greenspan's speeches on lowering worker mobility during his tenure.