The End of a Fair Price: Dynamic Pricing and the Normalization of Gouging
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The End of a Fair Price: Dynamic Pricing and the Normalization of Gouging
Unofficial Hacker News client; not affiliated with Y Combinator.
abdullahkhalids · · focus · HN ↗
If you apply this thinking to the economic system practiced in most countries, the answer is that the system forces have been set up in a way that the capital owners need to be paid back on an exponential schedule, and there are barely any counter-forces to this. Hence, the system will never hit a real steady state. People will continue to creatively design more and more immoral methods of extracting monetary value from a finite system that cannot indefinitely and continuously grow exponentially. There is no other way to pay back the capitalists. There is no counter-force.