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10 sats \ 2 replies \ @7e6e393a56 2 Nov \ parent \ on: There’s No Market Process Independent of Competition econ
There is a lot of talk, especially in academic circles, about competition and monopoly. The problem is that the definitions used for these terms are almost always wrong.
And if the concept used is wrong, then the policies suggested to deal with both will also be wrong.
Yes, consequences do flow from basic premises.
Your usual economists leave the actions of the state and cronyism out our their reasoning.
They also do not view competition as something that is also cooperative.
So, you can see the consequences flowing all around us.
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Fiat money is a state sponsored monopoly largely operated by a cartel of private banks.
It controls the MoE used by all businesses and consumers within its geographic catchment area.
It grants substantial capital issuance and allocation privileges to bankers and governments.
Bitcoin fixes this.
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