4 ms·
Part of that would be no protectionism. I seriously doubt that most in the HN community are big fans of e.g. the H-1B visa program. And yet a free market would
by cmurf 11y ago
Part of that would be no protectionism. I seriously doubt that most in the HN community are big fans of e.g. the H-1B visa program. And yet a free market would not have an H-1B program because in such a market anyone anywhere would be hireable strictly upon the discretion of the employer. The H-1B program itself is an intervention.
The reality is that you cannot have completely free markets in a democracy. As soon as a signifcant minority (let alone majority) do not like the market's outcome, they will petition a legislative alternative to that outcome. So of course there's going to be a hybrid system. Is there any 1st world country with a less interventionist government in economics than the U.S.? There are plenty of 3rd world countries where there's no regulation at all, I don't see entrepreneurship flourishing there, rather it's exploitation, and might makes right.
- ksk 11y ago>As soon as a signifcant minority (let alone majority) do not like the market's outcome, they will petition a legislative alternative to that outcome. But that presupposes that the populous would dislike the free market's outcome, which if anything points to the idea that free markets are unworkable in a practical sense.