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Советские, антисоветские
Aug. 3rd, 2018 09:37 pmWe can think of socialism (S) and capitalism (C) as isomorphic algebras for allocating rival/tangible assets with different rules/institutions, e.g. command vs . market). The C algebra leads to more efficient allocations, i.e. produces higher output. Done.
What happens when assets become intangible/non-rival, i.e. infinitely scalable? Both algebras fail, although in different ways. Smart entities (individuals, companies) capable of appropriating such assets get incredible advantages in winner-takes-all markets. As Peter Thiel puts it, "competition is for suckers."
What happens when assets become intangible/non-rival, i.e. infinitely scalable? Both algebras fail, although in different ways. Smart entities (individuals, companies) capable of appropriating such assets get incredible advantages in winner-takes-all markets. As Peter Thiel puts it, "competition is for suckers."
