Comment by qup
18 hours ago
Why would we think businesses will always make the right move?
They'll blunder. They'll do it even harder in the absence of competition.
18 hours ago
Why would we think businesses will always make the right move?
They'll blunder. They'll do it even harder in the absence of competition.
Who said I thought businesses would always make the right move?
Businesses blunder. "The market" is just a set of observations, including that competitors will tend to take advantage of those blunders. It is not a failure of the market that businesses have blundered, nor surprising that it will happen occasionally, and neither I nor mrweasel implied otherwise.