this post was submitted on 21 Aug 2025
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95% of Companies See ‘Zero Return’ on $30 Billion Generative AI Spend, MIT Report Finds (thedailyadda.com)
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[–] banause@feddit.org 4 points 5 hours ago* (last edited 5 hours ago)

You are repeating indoctrinated capitalist think patterns. In reality the market most often does not react like that.

The example as given by you is how you basically teach the concept of market balance to middle schoolers. However, it's a hypotetical lab analogy. It's over simplified for lay people. Comparable to the famous "ignore air resistance" in physics.

Markets are at times efficient, at other times inefficient. They may even be both concurrently.

First, economists do not believe that the market solves all problems. Indeed, many economists make a living out of analyzing “market failures” such as pollution in which laissez faire policy leads not to social efficiency, but to inefficiency.

Like our colleagues in the other social and natural sciences, academic economists focus their greatest energies on communicating to their peers within their own discipline. Greater effort can certainly be given by economists to improving communication across disciplinary boundaries

In the real world, it is not possible for markets to be perfect due to inefficient producers, externalities, environmental concerns, and lack of public goods.