GhostOnTheHalfShell ,
@GhostOnTheHalfShell@masto.ai avatar

@economics-that-works

"Schumpeter was antitrust's OG hater, who wrote extensively that antitrust law didn't need to exist because any harmful monopoly would be overturned by an inevitable market process dictated by iron laws of economics."

My shit detector goes off anytime mainstream economists remark on competition. They reject the premise of competition being defined by competitors competing in a marketplace.

🧵 1/2

https://pluralistic.net/2024/06/28/dealer-management-software/

GhostOnTheHalfShell OP ,
@GhostOnTheHalfShell@masto.ai avatar

@economics-that-works

Orthodox economics is the premise that monopolists are OK, because the peasants can have a revolution anytime they want.

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