"The Economy" is Hell: On Overproduction and Crypto / Trevor Jackson
This Is Hell!
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The Importance of Competition in Innovation
I think the story of competition, producing innovation is a thin one instead when we talk about overproduction. That's exactly the story: it makes sense for each individual entity in a production system to maximize their output so they can sell as much as possible. Well, if everybody does that, then we get an unexpected consequence of having produced too much. You know, and this was one of the key critiques throughout the 19th century of capitalism is that it doesn't produce efficiency, it produces anarchy.
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