There is no crisis where markets don't supply handbags for less than $2k.
Similarly, Markets are not a monolith so this doesn't prove anything about markets in general. Economics is a broad science which works to establish a model of commerce, with varying degrees of accuracy and utility.
Profits are not an inherently bad thing or dirty word. It just means that surplus value was created by a transaction, and workers can profit too
Profit as intended means producer surplus. Economic theory predicts producer surplus reaching 0, while consumer surplus getting maximized. That is what competition does. It does tell everything about markets. This does not happen because of IP doctrines, which distorts competition. And advertising, which causes information asymmetries.
Similarly, Markets are not a monolith so this doesn't prove anything about markets in general. Economics is a broad science which works to establish a model of commerce, with varying degrees of accuracy and utility.
Profits are not an inherently bad thing or dirty word. It just means that surplus value was created by a transaction, and workers can profit too