/biz/ - Business & Finance

Hey frens,

I know everybody says the free market is the most efficient system but I get the feeling that it's still really fucking inefficient.

Consider the following: there are numerous industries that exist and profit, not by providing value, but simply extract money through the ignorance of their customers. For example:
>Reverse mortgage scams that prey on the elderly and financially illiterate
>All kinds of insurance products that nobody really understands except for the brokers selling them
>Car dealerships fucking people in the ass because they don't understand financing
>Car mechanics fucking people over because they don't understand cars
>Banks charging people overdraft fees instead of simply declining transactions when funds are not available
>and many many more examples

I believe the economy would be radically different if people were unable to profit off of the ignorance of others.