33
Free and Open Source Software–and Other Market Failures
(cacm.acm.org)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 05 Jul 2024
33 points (82.4% liked)
Linux
45753 readers
663 users here now
From Wikipedia, the free encyclopedia
Linux is a family of open source Unix-like operating systems based on the Linux kernel, an operating system kernel first released on September 17, 1991 by Linus Torvalds. Linux is typically packaged in a Linux distribution (or distro for short).
Distributions include the Linux kernel and supporting system software and libraries, many of which are provided by the GNU Project. Many Linux distributions use the word "Linux" in their name, but the Free Software Foundation uses the name GNU/Linux to emphasize the importance of GNU software, causing some controversy.
Rules
- Posts must be relevant to operating systems running the Linux kernel. GNU/Linux or otherwise.
- No misinformation
- No NSFW content
- No hate speech, bigotry, etc
Related Communities
Community icon by Alpár-Etele Méder, licensed under CC BY 3.0
founded 5 years ago
MODERATORS
Excellent explanation (and disclaimer). I might just add another 2 cents...
It's not just that "the market fails" to account for many "externalities", but also that the market is systemically incapable of ever accounting for very many, very important externalities.
IE. The space of externalities >>> the market space. For example if the market priced in the suffering of labor (by paying living wages+, etc), that alone might make the market unaffordable. Similarly with climate justice, etc. The exploitation of these externalities is largely the basis of "profit".
You know, as time passes I get the feeling that this "space of externalities >>> the market space" might indeed be the case, or otherwise put that the free market fails to allocate resources efficiently more often than it succeeds. I just don't know if there's any empirical evidence for it and therefore I didn't want to add much of my opinion. Just the mainstream economic view of externalities coupled with a few obvious and massive examples like climate change paints a decent picture.
Do you know of any analysis that tries to compare the space of externalities vs the space of the market?