”It’s precisely this dynamic that creates productive bubbles. The rational individual decision (match your competitor’s investment) produces an irrational collective outcome (vast overcapacity).”
JohnFen•2mo ago
Its been really fascinating seeing the corporate propaganda machine shift from "there is no bubble and you're a fool if you think there is" to "of course there's a bubble, but the harm we're causing you is for the best".
andsoitis•2mo ago