> In Economics 101, I learned that in a free and fair marketplace, it was impossible to maintain an outsized profit, because competition would always show up to take part of that profit.
What you should have learned is that in an idealized, perfectly rational, perfectly competitive market this is true, and you should have also learned that such markets do not exist in reality, not least of all because rational choice theory does not accurately model human behavior, but also because perfect competition is not an attainable condition.
What you should have learned is that in an idealized, perfectly rational, perfectly competitive market this is true, and you should have also learned that such markets do not exist in reality, not least of all because rational choice theory does not accurately model human behavior, but also because perfect competition is not an attainable condition.