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[-] barsoap@lemm.ee 1 points 2 months ago

To get closer to the free market there would have to be a duty to disclose any- and everything that's now a trade secret, no matter how easily kept. To not just get closer but actually get there we all would need to be telepathic. As said, perfect information is a bitch of a concept.

[-] lud@lemm.ee 4 points 2 months ago

Being free to innovate and keep your own ideas to yourself sounds like it should be part of the free market though.

Forcing people to disclose their (mental) secrets seems bizarre.

[-] barsoap@lemm.ee -3 points 2 months ago

I'm not arguing for any policies, just explaining what would be necessary to make the theoretical model of the free market a reality in actual reality: It assumes perfect information and perfectly rational actors, it's a tall order.

[-] lud@lemm.ee 2 points 2 months ago

What definition are you going by?

[-] barsoap@lemm.ee 1 points 2 months ago* (last edited 2 months ago)

Adam Smith's. He pioneered rational choice models in general. Came up with the whole shebang that 20yold econ 101 students love to ignore in favour of "free market is if I get a fat payout".

[-] lud@lemm.ee 2 points 1 month ago

And why should I listen to someone that defines a word differently than everyone else?

[-] barsoap@lemm.ee 1 points 1 month ago* (last edited 1 month ago)

Adam Smith came up with it. It's also how actual economists use it. Don't confuse that with how business majors, politicians, and generally peddlers of institutionalised market failure use it.

[-] lud@lemm.ee 2 points 1 month ago

Can you point to a few examples of economists using it? Obviously I won't count Lemmy users.

[-] barsoap@lemm.ee 1 points 1 month ago* (last edited 1 month ago)

In the hardcore contemporary literature you mostly see more precise language such as perfect competition, (theoretical) situations which are pareto-optimal, which is built on Adam's rational choice models. The maths became more solid, the idea didn't change. They didn't have game theory back then.

And FFS read The Wealth of Nations and see what he thought of monopolists he'd consider our billionaires to be no different than the kings of old. The father of capitalism was out for universal wealth and happiness, not personal enrichment.

[-] lud@lemm.ee 1 points 1 month ago

You honestly seem obsessed with that adam dude.

I think your problem is that you seem to think that "perfect" mathematical models will ever work in real life.

[-] barsoap@lemm.ee 1 points 1 month ago

I think your problem is that you seem to think that “perfect” mathematical models will ever work in real life.

I said the exact opposite the whole thread. Are you confusing me with a capitalist or something.

[-] lud@lemm.ee 1 points 1 month ago

It's all you talk about though.

No one cares about Adam when his ideas are frankly stupid. Or at least how you describe them. He might be a solid dude.

[-] barsoap@lemm.ee 1 points 1 month ago

It's all you fucking asked about.

this post was submitted on 23 Oct 2024
726 points (98.9% liked)

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