I understand and know about this stuff. But thanks for youtube vids. Gruyère has been making cheese continuously since the 12th century and is now available worldwide. That happened without this.
Not sure those numbers back some prohibition ice cream conspiracy to make everyonelove cheese. But industry certainly met demand throughout industrialization. It's sold to us like everything else, and maybe we shouldn't buy so much of it, but all it really had to do was be awesome.
Cool story, but the EU eats more cheese per capita than the us. Every country in Europe just did the same thing the us did, know that cheese is delicious. No narrative required.
So you don't have an answer, that's fine, figured as much. Hand waiving, indeed.
Irrational actors are unpredictable in compounding ways. The concept is a meta analysis of the individual and the masses. Biases, irrational fear, herd dynamics, etc. These can lead to unpredictable outcomes.
But markets can still function, sometimes, because of other factors. Leverage, venture investment, loss management, mergers and acquisition, etc. And learning from witnessing a counterintuitive market dynamic.
In this, most basic example, there are no compounding factors in either case. There are no buyers. So, their irrationally is not a factor. And there is only production of a supply that has no demand.
Someone producing a degradable product that has no buyers is not what is meant when discussing irrational actors.
It's not referring to some crazy person who will just operate at a loss forever. And even if it was, they couldn't even do it forever if they wanted to.
Dodging the question, plugging your ears, and saying, "I heard a term one time that says they could be crazy and would just keep doing it forever for no reason. Prove me wrong." Is not the gotcha argument you think it is.
Best take, honestly. It's tribalism. People love to generalize and lean on prejudice to feel superior to a broad swath of people based on things largely out of their control. Which is exactly why the same approach also happens to work as propaganda.
Jfc, finally some sanity in this thread. Thank you. You'd think a bunch of supposed computer nerds would have done a fucking experiment before going off on some anecdotal bullshit.
I understand and know about this stuff. But thanks for youtube vids. Gruyère has been making cheese continuously since the 12th century and is now available worldwide. That happened without this.