'Neoliberal capitalism' has contributed to the rise of fascism, says Nobel laureate - eviltoast
The attacks on democracy and freedom "have never been greater in my lifetime," warns Nobel Prize-winning economist Joseph Stiglitz.
  • barsoap@lemm.eeEnglish
    21·
    3 months ago

    weak competition can happen with perfect knowledge by sellers and buyers.

    It can’t happen given perfect rationality as it’s not in the rational interest of the majority to allow a minority their monopolies.

    It’s a fucking theoretical model. The maths check out, that’s not the issue the issue is that it’s theory, with very glaring limitations.