#freemarket — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #freemarket, aggregated by home.social.
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@arstechnica @pluralistic Corporations say they love free markets, but they love profit more. Free market for thee, fixed prices for me.
> Amazon’s response acknowledged that it uses reserve prices, saying it implemented the system because “relevant ads [were] increasingly winning at prices below market value.”
Isn't the price that won the auction the market price, because, you know, it's the price the market discovered?
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@arstechnica @pluralistic Corporations say they love free markets, but they love profit more. Free market for thee, fixed prices for me.
> Amazon’s response acknowledged that it uses reserve prices, saying it implemented the system because “relevant ads [were] increasingly winning at prices below market value.”
Isn't the price that won the auction the market price, because, you know, it's the price the market discovered?
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@arstechnica @pluralistic Corporations say they love free markets, but they love profit more. Free market for thee, fixed prices for me.
> Amazon’s response acknowledged that it uses reserve prices, saying it implemented the system because “relevant ads [were] increasingly winning at prices below market value.”
Isn't the price that won the auction the market price, because, you know, it's the price the market discovered?
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@arstechnica @pluralistic Corporations say they love free markets, but they love profit more. Free market for thee, fixed prices for me.
> Amazon’s response acknowledged that it uses reserve prices, saying it implemented the system because “relevant ads [were] increasingly winning at prices below market value.”
Isn't the price that won the auction the market price, because, you know, it's the price the market discovered?
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@arstechnica @pluralistic Corporations say they love free markets, but they love profit more. Free market for thee, fixed prices for me.
> Amazon’s response acknowledged that it uses reserve prices, saying it implemented the system because “relevant ads [were] increasingly winning at prices below market value.”
Isn't the price that won the auction the market price, because, you know, it's the price the market discovered?
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Why your fare cost so much, and uber drivers get paid so little:
It is the result of a highly calculated corporate strategy known as surveillance pricing (or algorithmic personalized pricing).
In a genuine free market, prices function as transparent signals shaped by open supply and demand. Both buyers and sellers see the market rate, ensuring fairness. If a business overcharges, consumers walk; if it underpays, workers leave for a competitor.
Surveillance pricing completely subverts this dynamic by weaponizing information asymmetry. Using a massive hoard of data, the platform creates an invisible digital partition between the customer and the service provider. Instead of a shared, transparent marketplace, the algorithm isolates both sides into separate, closed-door negotiations where the platform holds all the cards.
For the passenger: The algorithm calculates the exact upper ceiling of what you will tolerate paying at that specific second—factoring in everything from your immediate location, time of day, and urgency, to your historical behavioral trends.
For the driver: The platform acts as an electronic monopsony (a market with many sellers but only one dominant buyer of labor). It isolates the worker and calculates the absolute structural floor of what that specific driver will accept to keep their car moving. By dangling unpredictable, variable incentives, it extracts hours of uncompensated labor (waiting and idling time), leaving the driver to absorb all the capital risk, vehicle depreciation, and fuel costs.
By blinding both sides of the transaction, the platform acts as a centralized command structure rather than a passive matching service. It systematically strips away the "consumer surplus" (the extra value and savings a buyer gets) and the "producer surplus" (the fair profit a worker keeps) and absorbs that wealth entirely for itself.
This mechanism is profoundly anti-free market because it replaces transparent competition with a proprietary information monopoly. True markets thrive on decentralized, shared knowledge; this system relies entirely on keeping everyone else in the dark.
#SurveillanceCapitalism #GigEconomy #PlatformCapitalism #FreeMarket #Economics #monopsony -
Turns Out That Advertisers Not Wanting To Fund Neo-Nazi-Adjacent Content Isn’t An Antitrust Violation
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Greatest thinker you’ve never heard of
1944, groundbreaking political economist Karl #Polanyi published The Great #Transformation
He accused liberal economists of commodifying human beings in name of #FreeMarket
1800s ideas brought barbarism, poverty with globalisation & unfettered capitalism
Wealthy Germans saw #Nazis as force against unions were persuaded to ignore #Hitler antisemitism. As do Americans who find #Trump distasteful still vote for him
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Greatest thinker you’ve never heard of
1944, groundbreaking political economist Karl #Polanyi published The Great #Transformation
He accused liberal economists of commodifying human beings in name of #FreeMarket
1800s ideas brought barbarism, poverty with globalisation & unfettered capitalism
Wealthy Germans saw #Nazis as force against unions were persuaded to ignore #Hitler antisemitism. As do Americans who find #Trump distasteful still vote for him
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Greatest thinker you’ve never heard of
1944, groundbreaking political economist Karl #Polanyi published The Great #Transformation
He accused liberal economists of commodifying human beings in name of #FreeMarket
1800s ideas brought barbarism, poverty with globalisation & unfettered capitalism
Wealthy Germans saw #Nazis as force against unions were persuaded to ignore #Hitler antisemitism. As do Americans who find #Trump distasteful still vote for him
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Greatest thinker you’ve never heard of
1944, groundbreaking political economist Karl #Polanyi published The Great #Transformation
He accused liberal economists of commodifying human beings in name of #FreeMarket
1800s ideas brought barbarism, poverty with globalisation & unfettered capitalism
Wealthy Germans saw #Nazis as force against unions were persuaded to ignore #Hitler antisemitism. As do Americans who find #Trump distasteful still vote for him
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Greatest thinker you’ve never heard of
1944, groundbreaking political economist Karl #Polanyi published The Great #Transformation
He accused liberal economists of commodifying human beings in name of #FreeMarket
1800s ideas brought barbarism, poverty with globalisation & unfettered capitalism
Wealthy Germans saw #Nazis as force against unions were persuaded to ignore #Hitler antisemitism. As do Americans who find #Trump distasteful still vote for him
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As night follows day, repression follows Thatcherism
The naïve ones believe that the economic system that is causing the trouble will also miraculously save us all. The cynical ones are just looking at their balance sheets.
https://freedomnews.org.uk/2024/04/16/as-night-follows-day-repression-follows-thatcherism/
#FreeMarket #KeirStarmer #neoliberalism #Thatcher #ToryParty -
@godpod Sorry - You were replaced a long time ago by the #GoldenCalf and its latest incarnation is #ExtremeCapitalism and #FreeMarket theory.