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A comment on Jack Dorsey is giving Andrew Yang $5M to build the case for a basic income. Parent comment

Re:Jack Dorsey is giving Andrew Yang $5M to build the case f... by 1propionyl on Thursday May 21, 2020 @07:57PM (#23267094)
This is only if you assume that a market saturated by advertisement is (properly) "functioning".

While advertisers like to claim that they are merely improving distribution of information (bringing us closer to that mythical "perfect information" assumption about competitive markets), in practice they mostly do the opposite.

That is, taking advantage of cognitive biases to sell people things they don't need, increasing net market participant irrationality.

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Re:Jack Dorsey is giving Andrew Yang $5M to build the case f... by solveit on Thursday May 21, 2020 @08:28PM (#23267359)
Which is why Coca-Cola, which has decisively won the advertising war as much as a corporation can, can jack up prices willy-nilly and people plagued by cognitive biases don't switch to Pepsi.
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