Re: Free Market
Utah posted:
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There are many factors but I will just choose one:
The markets rely on many players. The larger the market the more efficient it is. When there are only a few players it can becomes easy to manipulate.
"Market actors act rationally and in their best interests"
Can you give me an example when this is not the case?
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You responded:
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There is the fallacy of the commons. The assumption that each individual acting in his own best interest is in the best interest of the group as a whole has been disproven.
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Where did Utah assume that each individual acting in their own self interest is always in the best interest of the group as a whole? Better yet, if you would be so kind, give me an example of a market where all the actors would be better off if actors acting in their own self interest didn't happen.
Elwood I'll have more on this topic later.
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