Re:Intel Software Defined Silicon: additional CPU features a...
by wongarsu on Monday November 22, 2021 @08:17AM
(#29305997)
Simulating (or predicting/describing) economic situations is exactly what game theory is about. It allows you to basically set up a set of rules, and under some assumptions (everyone knows the rules, everyone behaves rationally, etc) calculate what will happen.
In that context it's important to note that collective bargaining is very much a feature of a pure capitalistic system. Just as the supply side seeks advantages by forming monopolies or cartels, the demand side seeks advantages by forming unions or purchasing pools. Both sides face similar challenges with this, like holding the group together and prevent betrayal (so you have to set up a Nash equilibrium where any one party leaving loses from doing so). You can certainly end up with universal healthcare in a pure capitalistic system because for the buyer side it decreases risk (because of the insurance characteristics) and lowers costs (due to the collective bargaining).
In that context it's important to note that collective bargaining is very much a feature of a pure capitalistic system. Just as the supply side seeks advantages by forming monopolies or cartels, the demand side seeks advantages by forming unions or purchasing pools. Both sides face similar challenges with this, like holding the group together and prevent betrayal (so you have to set up a Nash equilibrium where any one party leaving loses from doing so). You can certainly end up with universal healthcare in a pure capitalistic system because for the buyer side it decreases risk (because of the insurance characteristics) and lowers costs (due to the collective bargaining).