Re:Study shows salaries of young women 8% higher than men in...
by nerdymanchild on Tuesday April 03, 2018 @12:36PM
(#16746396)
Why is a working free market predicated on consumers having perfect knowledge? Free != Efficient
Re:Study shows salaries of young women 8% higher than men in...
by cup-of-tea on Tuesday April 03, 2018 @01:35PM
(#16747059)
That's just the definition of free market. How can it be be free if the consumers don't have perfect knowledge?
Re:Study shows salaries of young women 8% higher than men in...
by nerdymanchild on Tuesday April 03, 2018 @07:49PM
(#16750559)
Because most people allowed to own property, run a business, and offer products and services?
Free market economics is something you learn on the first day of economic theory. But then you very quickly learn that they don't actually exist or if they did exist would be very bad for us (due to high external costs etc.) In what market do consumers really have perfect knowledge? Which markets really have no barriers to entry? Some economists argue that the existence of marketing and advertising immediately defeats any hope of a free market.