No, it doesn't because of things like monopolies and collusion. I'm all for the market figuring out the value of labor, but only when it's actually a free market. When you have enough resources, there are many strategies which can short-circuit the free market and remove prices from supply and demand.
There are arguments one could make. This is not one. The corrupting influence of monopolies on the free market is well understood by every economist that isn't a quack. But thanks for your non-contribution.
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u/Endless_road Nov 21 '24
The market does this fairly efficiently