A new paper proves markets stay competitive only if P≠NP. The thread's rebuttal: we watch cartels fix prices all the time (arxiv.org)
The claim: catching a cartel's cheater is a computational problem. If P=NP, firms detect cheating efficiently, punishment stays credible, and collusion holds. If P≠NP, detection is infeasible and markets stay competitive. Paired with Maymin's 2011 'efficient iff P=NP' result, it yields an impossibility: a market can be efficient or competitive, not both.
The thread's objection is empirical: we've watched stable cartels for decades, and 'computationally infeasible' collapses the moment you allow the heuristics everyone actually uses.
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