You people know we have computers now, right? The invisible hand died right around the time people found out they could make millions out of a 10ms difference between competing servers.
You people know we have computers now, right? The invisible hand died right around the time people found out they could make millions out of a 10ms difference between competing servers.
That is correct, some crazy conspiracy theorists even say we use computers to communicate here, but I think they're wrong.
Anyway, I think that is only part of the issue.
A working market also requires that both sides have the required knowledge to make an informed decision about a trade. That one kinda goes down the gutter the moment I read that there is triordium phenobytolphtalamagnate in the one butter and primordial quantophisicine-10 in the other. And that's not just because I just made them both up, but because products have also become so complex that a lot of people can't really make an informed decision about what to buy. Maybe some can do so in one field or for one product group, but then they probably can't do so in another unless they spend their entire lives researching the benefits and downsides of all the products they may want to buy. This gives the suppliers an information advantage that allows them to manipulate the market/buyers.
(Expert) Reviews can and do help a little bit in some areas but I don't think they reduce the complexity enough.
If you want an example, think of bio/organic food, it started from the fear of consumers that they don't know what is in their food anymore and that it may be harmful. Plus some added environmental concerns. By now a lot of it has been turned more or less into a farce because the suppliers can easily confuse buyers with that buzzword and there is too little regulation or review to ensure that the product meets the expectations people have when they see the buzzword.
Organic cotton may be another such thing, even if often well-intentioned, I'd think Hemp is still way better than any kind of cotton. It needs less water, no or very little use of chemicals to allow it to grow and is even superior in terms of durability and comfort. With the right hemp I think you'd also have to smoke several trousers for a buzz, so the whole drug issue should be unproblematic. Somehow we keep using cotton though and the Ural lake keeps disappearing.![]()
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"Topic is tired and needs a nap." - Tosa Inu
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