this post was submitted on 09 Feb 2024
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Why It Was Almost Impossible to Make the Blue LED (youtu.be)
submitted 9 months ago by Whirling_Cloudburst@lemmy.world to c/technology@lemmy.world
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The blue LED was supposed to be impossible—until a young engineer proposed a moonshot idea.

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[–] avidamoeba@lemmy.ca 1 points 9 months ago

This is something that's often poorly understood. There's no profit in a perfectly competitive market. That is, according to orthodox economic theory, the most efficient market conditions are the ones where no participants make profit. From that you can derive what you said - that innovation is sought for moving a business away from perfect competition by gaining competitive advantage, which is anticompetitive! 😆