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Comment on REPORT: Arm is sensationally canceling the license that allowed Qualcomm to make Snapdragon chips which power everything from Microsoft's Copilot+ PCs to Samsung's Galaxy smartphones and tablets

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barsoap@lemm.ee ⁨5⁩ ⁨days⁩ ago

Adam Smith came up with it. It’s also how actual economists use it. Don’t confuse that with how business majors, politicians, and generally peddlers of institutionalised market failure use it, they’re doing the 1984 “war is peace, freedom is slavery” thing.

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lud@lemm.ee ⁨5⁩ ⁨days⁩ ago
Can you point to a few examples of economists using it? Obviously I won’t count Lemmy users.

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- barsoap@lemm.ee ⁨5⁩ ⁨days⁩ ago
  In the hardcore contemporary literature you’re mostly see more precise language such as perfect competition, (theoretical) situations which are pareto-optimal, which is built on Adam’s rational choice models. The maths became more solid, the idea didn’t change.
  
  And FFS read The Wealth of Nations and see what he thought of monopolists he’d consider our billionaires to be no different than the Kings of old.
  
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  - lud@lemm.ee ⁨5⁩ ⁨days⁩ ago
    You honestly seem obsessed with that adam dude.
    
    I think your problem is that you seem to think that “perfect” mathematical models will ever work in real life.
    
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    barsoap@lemm.ee ⁨5⁩ ⁨days⁩ ago
    
    I think your problem is that you seem to think that “perfect” mathematical models will ever work in real life.
    
    I said the exact opposite the whole thread. Are you confusing me with a capitalist or something.
    
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