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0 pointsJohnFen3y ago0 comments

> Considering that markets exist whenever 2 or more individuals gather

In the most general sense of "market", this is not wrong. However, you're talking from the point of view of a rather specific market theory. That market theory is not a fundamental force, it's just one of many ways of doing things.

It also has a very narrow definition of "fair", which makes sense within its own world, but I would argue is not generalizable outside of that world.

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MichaelZuo3y ago

What's the 'rather specific market theory'? As far as I understand that is the dictionary definition of a market. Here's Meriam-webster:

market, noun, often attributive

mar· ket | \ ˈmär-kət \

Definition of market (Entry 1 of 2)

1. a(1) : a meeting together of people for the purpose of trade by private purchase and sale and usually not by auction (2) : the people assembled at such a meeting

b(1) : a public place where a market is held especially : a place where provisions are sold at wholesale a farmers' market (2) : a retail establishment usually of a specified kind a fish market

2. archaic : the act or an instance of buying and selling

3. : the rate or price offered for a commodity or security

4. a(1) : a geographic area of demand for commodities or services (2) : a specified category of potential buyers the youth market

b : the course of commercial activity by which the exchange of commodities is effected : extent of demand the market is dull

c(1) : an opportunity for selling

(2) : the available supply of or potential demand for specified goods or services the labor market

d : the area of economic activity in which buyers and sellers come together and the forces of supply and demand affect prices

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