alt Hacker NewsI used the term "private market" when I actually meant the private sector. I just mean all labor that isn't government owned - public companies, private companies etc. So yes - in a reasonably functioning capitalist market (which the U.S still is in my eyes) I expect gross inefficiencies to not be prevalent.
> So yes - in a reasonably functioning capitalist market (which the U.S still is in my eyes) I expect gross inefficiencies to not be prevalent.
I am not sure that is true, though. Assume for a moment that Google would waste 50% of their profits. Truly, a huge inefficiency. However, would that make it likely some other corp could take their search/ad market share from them? I doubt it, given the abyss of a moat.