Scale is how fiat companies beat inflation
The bigger the company, the more they sacrifice, the quality of the good and services they provide
The incentives are perverted
Scale is how fiat companies beat inflation
The bigger the company, the more they sacrifice, the quality of the good and services they provide
The incentives are perverted
I think it is more that they have cheap access to debt markets so they can short the currency to gain advantage over smaller competitors who don't have access. The cantillion effect or TradFI morons call it the Modigliani-Miller Theorem.
