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by JohnFen
1367 days ago
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> Considering that markets exist whenever 2 or more individuals gather In the most general sense of "market", this is not wrong. However, you're talking from the point of view of a rather specific market theory. That market theory is not a fundamental force, it's just one of many ways of doing things. It also has a very narrow definition of "fair", which makes sense within its own world, but I would argue is not generalizable outside of that world. |
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market, noun, often attributive
mar· ket | \ ˈmär-kət \
Definition of market (Entry 1 of 2)
1. a(1) : a meeting together of people for the purpose of trade by private purchase and sale and usually not by auction (2) : the people assembled at such a meeting
b(1) : a public place where a market is held especially : a place where provisions are sold at wholesale a farmers' market (2) : a retail establishment usually of a specified kind a fish market
2. archaic : the act or an instance of buying and selling
3. : the rate or price offered for a commodity or security
4. a(1) : a geographic area of demand for commodities or services (2) : a specified category of potential buyers the youth market
b : the course of commercial activity by which the exchange of commodities is effected : extent of demand the market is dull
c(1) : an opportunity for selling
(2) : the available supply of or potential demand for specified goods or services the labor market
d : the area of economic activity in which buyers and sellers come together and the forces of supply and demand affect prices