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comment by wasoxygen
wasoxygen  ·  3176 days ago  ·  link  ·    ·  parent  ·  post: Post-Capitalism Has Begun

    information is corroding the market’s ability to form prices correctly. That is because markets are based on scarcity while information is abundant

This is the point where I started skimming. It's obvious nonsense, unless you are talking about prices for information. The Information Age has indeed reduced the cost of getting data about, say, poverty rates, to a negligible level.

Prices are information. More information means better, more uniform pricing. Remember renting a car at the airport without a reservation, or walking into a hotel to ask the rack rate? Ever checked a price on Amazon while standing in a Best Buy?

    what the fuck have FB, Twitter and Instagram ever made?

Joy. They created joy. What did Shakespeare make? Bruce Lee? mk?