(4/6) The lethal economics of corporate kung fu
Market failure = firm success. To understand #economic reality, we have to understand that companies are competing over ways to avoid economic competition. Even if it comes at consumers' expense. Corporate kung fu are the insane tactics companies pursue that screw over consumers.
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(4/6) The lethal economics of corporate kung fu
Market failure = firm success. To understand #economic reality, we have to understand that companies are competing over ways to avoid economic competition. Even if it comes at consumers' expense. Corporate kung fu are the insane tactics companies pursue that screw over consumers.
(5/6) The tension at the heart of market #capitalism
Markets under capitalism face four paradoxes managing the balance of power in the system:
1. Property rights limit competition.
2. Property rights enforcement invites exploitation.
3. Markets reward secrecy but need transparency to function well.
4. Market success undermines market competition.
(6/6) #Capitalism runs like a computer (and it's being hacked)
Markets under capitalism are an open system whose norms and protocols can be hijacked to create permanent structural advantages. Very similar to #exploits #vulnerabilities in #cybersecurity.
Because #capitalists institutions determine what can be bought and sold in market capitalism they are often targets of hijacking.
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