So there's this distortion that happens because of the lies people tell about their businesses.
因此,由于企业家的撒谎,把公司说的和实际情况不一样
And the lies are sort of in these opposite directions.
公司的实质就被扭曲了
Let me, drill a little bit down further on the way these lies work.
我们深入讲解一下,他们的谎言是如何奏效的
And so the basic lie you tell as a non-monopoly is that we're in a very small market.
作为一个非垄断公司,通常的谎话就是我们的市场很小
The basic lie you tell as a monopoly is that the market you're in is much bigger than it looks.
而垄断企业的谎话,通常是说我们处于的市场比看起来大得多
And so typically, if you want to think this in sort of set theoretic terms.
通常如果要用集合来说明
You could say that a monopoly tells a lie,
垄断的企业通过说谎
where you describe your business as the union of these vastly different markets,
把自己的市场描述成多个巨大市场的并集
and the non-monopolies describes it as the intersection.
而非垄断企业则谎称自己的市场是多个市场的交集
So, that in effect, if you're non-monopolist,
实际上就是,非垄断企业
you will rhetorically describe your market as super small.
把自己的市场描绘的极其狭小
You're the only person in that market.
并说自己是市场中唯一的公司
If you have monopoly, you'll describe it as super big, and there's lots of competition in it.
垄断者则把市场描述的极其巨大,并说自己只是众多竞争者之一
So some examples of how this works in practice.
这里有些实际的例子
So I always use restaurants as the example of a terrible business.
我总是把餐厅作为糟糕生意的例子
And there's always, sort of, ideas that, you know, capitalism and competition are antonyms.
一直有一种观念认为资本与竞争水火不容
Capital, someone who accumulates capital.
对于拥有资本并积累资本的人来说
World of perfect competition is a world where all the capital gets competed away.
完全竞争的世界会因激烈竞争使得资本耗光