There are no more markets. A market is a place that a business prices an item and lets the buyers decide whether they will pay that. Then if the item doesn’t sell for that price the business might lower the price because of competition.
Stores are not “markets” any longer. Amazon is not a market. The free market was eaten up by data.
The free market never existed and cannot exist. “Free” for Adam Smith meant free from rents (e.g. by monopolists, landlords, etc), but capitalism tends toward monopoly as bigger players swallow up smaller ones and use anticompetitive tactics to maintain their position.
There are no more markets. A market is a place that a business prices an item and lets the buyers decide whether they will pay that. Then if the item doesn’t sell for that price the business might lower the price because of competition.
Stores are not “markets” any longer. Amazon is not a market. The free market was eaten up by data.
The free market never existed and cannot exist. “Free” for Adam Smith meant free from rents (e.g. by monopolists, landlords, etc), but capitalism tends toward monopoly as bigger players swallow up smaller ones and use anticompetitive tactics to maintain their position.
Capitalism is incompatible with reality-and even in the realm of pure ideal, it still sucked