this post was submitted on 04 Nov 2024
1503 points (99.1% liked)

Technology

59107 readers
3614 users here now

This is a most excellent place for technology news and articles.


Our Rules


  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots


founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 3 points 1 day ago

You're talking about free and open competition in a perfect competition marketplace. This is an ideal (similarly far-fetched as communism/socialism*) where there are low barriers to entry, and consumers have good information to make well informed choices. In this world competition bid's down excess profits in the long run - essentially to consumers benefit. not the benefit of producers. wages are low but it doesnt so much matter becauases competition keeps prices low.

Capitalism wants to increase the return to capital , so it works against competition to create market power (by many means including legal system power and regulatory capture as well tacit or explicit corruption) both over consumers and over their own supply chain (e.g. employees). It inherits its legacy from rentierism and landowners who also like to monopolize land, ration it and have tenants bid up rents.

'objective sources', on economics? Good luck. economists are so bi-assed that most of them can spew shit out of two holes simultaneously.

  • both communism and perfect competition probably work fine in a small closed community, where everyone pretty much has repeated interactions with everyone - visibility - and there will be other examples where they each work fine-ish, but on a large enough scale, anomynity and human nature come into play. The reality is human trust is excellent, but some people will abuse it when they think they'll get away with it and that destroys it.