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The “perfect competition” concept (where ideal competitive markets lead to better prices and higher salaries, etc) is obsolete, i read milton Friedman debunking it funnily enough.
The “perfect competition” concept (where ideal competitive markets lead to better prices and higher salaries, etc) is obsolete, i read milton Friedman debunking it funnily enough.
In which book does he do that?
in some chapter of “methodology of economics”.