the hells that mean

There are some actions that you may take that are in your interest and benefit the wider society, there are others that don't.

Becoming a thief may be in your interest, for example, but harms society.

well yes of course but on an economic basis it helps society

that is why we have laws

Theft?

no

we have laws to prevent theft

Ok, so what about economic exploitation?

It's similar to theft but not illegal

Such as overcharging someone for a house or a repair job

hm

do you know how the free market works

I am familiar

explain to me the concept of competition

But the free market assumes everyone is rational, and that competiton actually exists.

,

Monopolies are a thing

tell me how competition doesn't exist

monopolies

A large company can starve out smaller competitors by various means. It can undercharge temporarily for example, putting smaller companies out of business. It can also control the means of supply.

The network effect is huge too, as well as economies of scale. Large companies will tend to grow larger in a free market

Smaller companies get drowned out in most markets.

lowering prices isn't the only way to compete in the marketplace

It was an example.

of course larger companies are naturally hard to compete with

but it normally takes a long time to reach that status

every business begins small

small businesses can compete

and this has been shown

Sure but it happens. Eventually there will be a monopoly, and the monopoly will be able to dictate the parameters of the market if there isn't state intervention.

There doesn't even need to be just one company in monopoly. If there are a few then they essentially make decisions in tandem. They act as an unofficial cartel.

i don't disagree that eventually monopolies form out of a free market

this is why mixed economies exist

have regulations and laws that promote competition

So why were you trying to tell me about the free market if that's not what you were supporting?

when i say free market i usually mean it synonymously with mixed economy with minimal intervention

sorry it seemed like i was an anarcho capitalist

https://discord.gg/z7jwpD

Sure. Anyway, I still don't see wealth as an absolute measure of how good a country is or how good someone's life is.

That was my original point.