No economist would claim that (and I seriously ask from where you got the "markets maximize consumers' quality of life" claim). Markets rather optimize for the most efficient usage of resources.
No economist would claim that (and I seriously ask from where you got the "markets maximize consumers' quality of life" claim). Markets rather optimize for the most efficient usage of resources.
"providing as much value as possible to consumers at as low a price as possible" is exactly the opposite of efficiency since as a company you don't have to invest that many resources for the given price.
Pre-installing spyware gives money to the vendor of the laptop. The developer of the spyware can afford to give this money to the laptop vendor since he can use the collected data to make even more money.
Where, in practice, "efficient" is conveniently circularly defined as "whatever the market decides". In the case of the OP, there's nothing "efficient" about grinding a computer to a halt under an oppressive layer of crapware, thereby wasting the user's time and energy (in both a literal and a figurative sense). The stark lesson of the modern age is that markets are hopeless at pricing in externalities.
And increasingly, consumers have become resources rather than market participants.
By their buying decisions, they actively decide that this is what they want.
I don't like Android, I don't like iOS. What do I buy ? Not the one that is best for me, because I don't have a real choice, but the one I will hate the least.
Not buying is also a possible decision. You should of course choose this choice if all other available option have a negative net value for you. The fact that you decided for Android or iOS shows that both of these choices have a positive net value for you - so what are you complaining about?
> The fact that you decided for Android or iOS shows that both of these choices have a positive net value for you - so what are you complaining about?
Android suits me more, but I would like to be able to run multiple VPNs at the same time. What do I buy ?
I didn't buy Android because this is what I want, but because it's the closest. But how do I drive the decisions to where I want ? Am I supposed to wait that a million alternatives are created and have the same level as Android, then only can I buy what I need ? This just doesn't work.
This means the vendor makes no money from you. If a lot of people decide this way, the vendor will have to adjust or go bust - this is called "market adjustment".
The fact that you did buy tells the market that what you bought is of net-positive value for you.
This doesn't mean the market is efficient. It means the market misunderstands itself.
As an example, I hate every option available for phones right now but I can't just not have a phone. I have no real choice.
Whichever decision I make will send the wrong signal to "the market" and won't influence it to improve.
Thanks 'free market'.
Not to mention lineage means no verified boot
This is what buyers decide about via their buying decisions.
Most efficient usage of resources in what sense?
If a company is able to pay more for their commodities, it means that it is able to create more of an economic value of the commodities than a competitor (otherwise it would not be able to pay this price). This leads to a more efficient and effective use of the commodities that are traded on the market.
Indeed, if slavery turned out to be more efficient, it would.
But I think that the claim that slavery is more efficient does not hold, since opressing people binds a lot of ressources; also opressed people tend to do work as minimally as possible.
So it is much more efficient to give people the illusion of freedom instead of enslaving them.