Economics 101 predicts scalping and surge pricing but people still act like it’s some weird abberation rather than the free market actually being free.
It also predicts that Keynesian economics lead to a more prosperous nation than neoliberal austerity because the diminishing returns of capital investment make “high highs and low lows” worse on average than stability; which explains why gdps of the western world have grown so little compared to China’s in the past 20 years.
It also predicts tragedies of the commons, i.e. how capitalism will always ruin everything for everyone, even the people that “win”, and the only solution is to make sure capitalism doesn’t touch the commons because it will find a way to murder them; which explains why the Earth is becoming uninhabitable.
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Economics 101 predicts scalping and surge pricing but people still act like it’s some weird abberation rather than the free market actually being free.
It also predicts that Keynesian economics lead to a more prosperous nation than neoliberal austerity because the diminishing returns of capital investment make “high highs and low lows” worse on average than stability; which explains why gdps of the western world have grown so little compared to China’s in the past 20 years.
It also predicts tragedies of the commons, i.e. how capitalism will always ruin everything for everyone, even the people that “win”, and the only solution is to make sure capitalism doesn’t touch the commons because it will find a way to murder them; which explains why the Earth is becoming uninhabitable.
If they taught you Keynesian economics in econ 101 you can consider yourself lucky
One of the benefits of having social democrats in government, I suppose.
(I forget sometimes that “101” is literally a USAmerican college thing and not just international shorthand for “introductory”).