> but it can't last forever in usual circumstances.
I don't think that's true. Imho this would be more correctly stated as "it can't last forever in theory".
It can't last forever where there is perfect information, or perhaps equal opportunity. But as you say it is "impossible for everyone to know everything" so this is never the case in the real world.
Thus the need for interventions (i.e. by the state) to correct asymmetries such as institutional inequality. These are failures of "pure capitalism" that need to be corrected by other means.
I don't think that's true. Imho this would be more correctly stated as "it can't last forever in theory".
It can't last forever where there is perfect information, or perhaps equal opportunity. But as you say it is "impossible for everyone to know everything" so this is never the case in the real world.
Thus the need for interventions (i.e. by the state) to correct asymmetries such as institutional inequality. These are failures of "pure capitalism" that need to be corrected by other means.