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whowasthatmaskedman · 70-79, M
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CopperCicada · M
@MasterLee [quote]strong enforced regulation = socialism[/quote]
Socialism requires state production of capital and state distribution of wealth.
Regulating a market can be done with neither. Like the regulation that you can't dump shit in the water or sell benzo's over the counter.
Socialism requires state production of capital and state distribution of wealth.
Regulating a market can be done with neither. Like the regulation that you can't dump shit in the water or sell benzo's over the counter.
CopperCicada · M
@whowasthatmaskedman Well, from the perspective of the Austrian school economists like von Mises and Hayek, you could argue that America has never had a free market.
CopperCicada · M
Von Mises would say a free market is the only way for a society to express its values in a concrete fashion. There is a lot of wisdom in his philosophical position. He shows how economic value is related to social values and articulated through markets.
I've seen first hand in underground local cash and barter economies when I spent time in the rural Northeast.
But it has to be completely unregulated. And that's where it falls apart. One can't want to eliminate taxation and environmental regulations while keeping corporate subsidies.
Pragmatically I don't think a truly free market can exist for an economy of a certain scale. And when markets are political machines. In that case it seems import to still use free market philosophy to understand what goes on.
I've seen first hand in underground local cash and barter economies when I spent time in the rural Northeast.
But it has to be completely unregulated. And that's where it falls apart. One can't want to eliminate taxation and environmental regulations while keeping corporate subsidies.
Pragmatically I don't think a truly free market can exist for an economy of a certain scale. And when markets are political machines. In that case it seems import to still use free market philosophy to understand what goes on.
QuixoticSoul · 41-45, M
Xuan12 · 31-35, M
If you're goal is to have an economic system that improves society, then look elsewhere. Capitalism only drives advancement when the market is competitive. One entity simply cannot be allowed to dominate a sector, as that power could be used to overwhelm any competition, and then in the absence of competition, gouge and stagnate the market space. Preventing this requires the intervention of society. Carefully regulated free markets have proven most efficient (for most matters) thus far, and that is simply not laissez-faire.
Northwest · M
From an economic perspective, it works short term, when you have people with vision, controlling it. Sort of like the Wild West days, and similar periods, in Europe.
Long term, it does not advance the lives of individuals (education, quality of life, health, etc), and more egalitarian societies will overtake it.
The Silicon Valley could not have happened if the Wild West days had extended into the 20th Century.
Long term, it does not advance the lives of individuals (education, quality of life, health, etc), and more egalitarian societies will overtake it.
The Silicon Valley could not have happened if the Wild West days had extended into the 20th Century.
OggggO · 36-40, M
There are very few worse options.
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