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Boosted by taral ("JP Sugarbroad"):
MidniteMikeWrites@zirk.us wrote:
@CassandraVert @alberto_cottica @pluralistic
Yes. People like Hayek were right about markets being information engines, but wrong about the contents of that information. Because market capitalism serves to maximize profits companies function by creating ignorance about costs & products so premiums can be charged. Rather than explicitly solve distribution problems, markets under capitalism “solve” for exploiting (and creating) information asymmetry.