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by DanielleMolloy 2673 days ago
A lot of our modern economy seems to be relying on human predisposition to addictions. Think sugar / carbs, alcohol, tobacco, certain games, news and social media and their recommendation engines. All exploiting similar neural pathways.
1 comments

Yup. The free market as the end to all means relies on several incorrect assumptions:

1) humans are not rational agents that always pursue their best interest

2) local optimization (what the market does) doesn't always lead to a global optimum

3) oftentimes the interest of investors and consumers diverge and the former have far more power (information asymmetry).