Uncommon
Neijuan
Economic concept that describes an excess of competition
Neijuan
Neijuan, sometimes known by the English term involution, is a Chinese term that describes a condition in which a system, institution, or competitive process continues to intensify in effort, complexity, or participation without a corresponding increase in output, efficiency, or collective benefit. Neijuan is the Chinese calque of the English word involution. Neijuan is written with two characters which mean 'inside' and 'curling/rolling'. Neijuan had been used to describe an uneven distribution of social, economic, and educational resources and ongoing economic malaise, especially in terms of higher education bodies and labor markets. On a macroeconomic level, neijuan has led to overproduction and diminishing returns for capital owners who engage in fierce price wars that aggravate deflationary pressures in a pure unregulated market. When capital owners are driven by competition they must work increasingly more for little or no marginal gain despite falling prices for consumers so price...
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