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by tshaddox
209 days ago
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> This is maybe the first dataset I've seen that clearly illustrates how margin (profit) is inversely correlated with value to humanity. Of course, this pretty closely matches the basic Econ 101 explanations of competition and free markets. The entire goal of competition is to reduce prices, specifically to get the market price of a good to trend down towards the marginal cost. The thing that's supposed to be good for society isn't that some people get very rich by selling things at high profit margins, but rather that the stuff we want is available at the lowest feasible price. |
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