I think this reflects these very different valuations on X and Y.
我认为这很好地反映了X和Y值的差异
So, you know, if we look at perfect competition.
如果我们考虑一个完全竞争的市场
You know there are, sort of, there's some pros and cons to the world of perfect competition.
完全竞争的市场既有优势,也有劣势
On a high level it's always, this is what you study in Econ One.
你们在“经济学I”中学过这部分内容
It's always, it's easy to model, which I think is why Econ professors like talking about perfect competition.
这很容易进行建模,这也解释了为什么经济学教授喜欢谈论完全竞争
It somehow is efficient, especially, in a world where things are static
第二个优点是它很有效,尤其是在静态下
because you have all the consumer surplus gets captured by everybody.
消费者剩余简单明了
And politically, it's what we're told is good in our society,
此外,政治上这也是有好处的
that you want to have competition and this is somehow a good thing.
社会中需要有竞争
Of course, there are a lot of negatives. It's generally not that good if you're.
当然,也有很多负面的东西。如果你进入竞争很激烈的领域
You're involvement in anything that's hyper-competitive because you often don't make money off,
那就不太好了,因为赚不到钱
come back to this a little bit later.
我们稍后再继续讲
So, I think at one end of the spectrum you have industries that are perfectly competitive.
我认为公司有两个极端,一个极端是完全竞争
And at the other end of the spectrum you have things that, I would say, are monopolies.
另一个极端是垄断
And they're much stable,longer term businesses, you have more capital.
垄断公司的市场份额长期稳定,拥有更多资本
And if you get a creative monopoly for inventing something new,
如果你们公司能不断发明新产品并垄断市场
I think it's symptomatic of having created something really valuable.
那么我想你们就创造了很有价值的公司
And so I do think this, the extreme binary view of the world I always articulate is that
因此,这个世界存在两种截然不同的景象
there are exactly two kinds of businesses in this world.
即存在两种截然不同类型的公司
There are businesses that are perfectly competitive and there are businesses that are monopolies.
一种是完全竞争的公司,另外一种则是垄断的公司