“asymmetric information warfare” I think that’s a great term in explaining how “the free market” doesn’t work.
That's also a powerful tool for wage suppression and it's been used for decades to constantly low-ball workers.
Thank god in the last decade we saw a lot more transparency online through user provided open source salary data, which helps even out this asymmetry a bit and have workers demand their market value and hope to not get massively low-balled like before.
>I think that’s a great term in explaining how “the free market” doesn’t work.
It only works for those who set the prices as they can collude on price/wage fixing whereas workers and consumers can't organize in similar fashions.