Love Carlin. Hate this quote.
Truth is, we are all closer to chimps than Einstein. And Einstein still left some lingering questions for us to solve.
That’s the distribution. Not “Everyone is stupid except me and you, dear reader.”
So you don’t have an answer, that’s fine, figured as much. Hand waiving, indeed.
Irrational actors are unpredictable in compounding ways. The concept is a meta analysis of the individual and the masses. Biases, irrational fear, herd dynamics, etc. These can lead to unpredictable outcomes.
But markets can still function, sometimes, because of other factors. Leverage, venture investment, loss management, mergers and acquisition, etc. And learning from witnessing a counterintuitive market dynamic.
In this, most basic example, there are no compounding factors in either case. There are no buyers. So, their irrationally is not a factor. And there is only production of a supply that has no demand.
Someone producing a degradable product that has no buyers is not what is meant when discussing irrational actors.
It’s not referring to some crazy person who will just operate at a loss forever. And even if it was, they couldn’t even do it forever if they wanted to.
Dodging the question, plugging your ears, and saying, “I heard a term one time that says they could be crazy and would just keep doing it forever for no reason. Prove me wrong.” Is not the gotcha argument you think it is.
Basic markets are not capitalism.
That’s not relevant. This issue is more basic than that. It’s the most basic.
Out of morbid curiosity. Hypotheticaly, why or how do you think a producer would continue to operate at full scale with no buyers?
You still don’t understand basic markets, huh. That’s unfortunate.
Best take, honestly. It’s tribalism. People love to generalize and lean on prejudice to feel superior to a broad swath of people based on things largely out of their control. Which is exactly why the same approach also happens to work as propaganda.
Jfc, finally some sanity in this thread. Thank you. You’d think a bunch of supposed computer nerds would have done a fucking experiment before going off on some anecdotal bullshit.
Zeta reticulians drop off dope craft. Wtf are these damn things‽ Antimatter annihilation engine turns over nicely and hums along.
Seems like calling her not very bright WAS an average lemming being smug about their perceived intelligence.
Just Stitch on mine. My son placed it and laughed saying, “You’re about that Stitch life.”
We are all cringe on this blessed day.
2nd paragraph wasn’t good enough, huh?
The article did not describe either of those things that way. Cynicism is overriding reading comprehension.
The article starts by doing the “quantum” thing that really irks me
Basically, they found a way to send quantum entangled photons
Ya, explains a lot tbh.
Populist gonna Populist.
It’s about the journey and the friends you meet along the way.
Naw, they think that a reduction in demand would not reduce supply. As to why anyone would keep making production levels of milk to rot away with no buyers? They need to see it to believe it.
Making things requires a process‽ Can’t explain that!
Ya, everyone has their “until” moments.