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Given a harmful, self-reinforcing cycle produced by multiple independent actors making (fairly predictable) decisions, I'm curious why you think it's correct to
by camccann 17y ago
Given a harmful, self-reinforcing cycle produced by multiple independent actors making (fairly predictable) decisions, I'm curious why you think it's correct to single out a particular part of the cycle as being the problem.
At any link in the chain, someone could have said "this is a bad idea" and stopped--but instead they do what's in their own (short-term) best interest, and everyone loses.
- dantheman 17y agoThe harmful part is the distortion of the market -- by the government; all other private individuals and organizations ultimately have to bear the result of their choices. The government through force takes money and distorts the market -- no other actor in the equation has that power.