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I'd argue the only way you get maximal economic liberty is with a strong safety net. The most significant "lawful" forces that hurt economic liberty are regula
by zanny 10y ago
I'd argue the only way you get maximal economic liberty is with a strong safety net.
The most significant "lawful" forces that hurt economic liberty are regulations, price fixing, and certification. They vary in intensity from having to put ingredients on the bottle to outright banning incandescent lightbulbs, from corn subsidies to fixed rates in medicare, and from getting a drivers license to getting an MD.
But they are all barriers to economic participation and malleability. But they exist for reasons - to reduce exploitation in the system.
Those social safety nets, that in theory could be taking an economically uniform portion of productivity and thus have their minimal impact, also reduce the ability for people to be exploited. Loan sharks and get thin quick schemes are modern, legal forms of exploitation, but historically bad food products, dangerous housing and machinery, and outright extortion were all exploitation schemes the regulation machine reduces.
But if you have a strong enough safety net to keep people out of the desperation trap of needing money or resources to sustain their livelihood you can also eliminate swathes of the regulation that restricts markets without negatively harming those at most risk for being taken advantage of, because the state institution provides a floor on what the worst possible outcomes can be.
It is very similar to how easy credit creates business opportunity. Without credit, you cannot have a foundation to start out on if you have nothing in the first place. In the same way, either Scandanavian style socialism or the UBI proposals floating around can provide the foundation to enable more general economic freedom above it.
It is impossible to feel free when you are restricted to the bottom of Maslow's heirarchy. Maximal freedom comes from the top, where you have access to the full breadth of your potential. But any time you slip down to the bottom rungs again you are forced to contend with those, because survival trumps self-actualization. If you want to maximize for personal liberty of all forms, including economic, you need to make sure nobody is getting trapped down there.
- deleted 10y ago[deleted]
- mikaeluman 10y agoSigh... This is what happens when you start with faulty definitions. Orwellian at best.
- dang 10y agoThat's not a civil way to address another commenter, even if that commenter is completely wrong. If you see an error, it would be better to explain what it is, not call names. Interjections like "Sigh..." are an internet-forum form of rolling one's eyes, which isn't nice. We all know from experience how much harder and more time-consuming it is to correct errors than make them in the first place—that's a big problem with internet discourse in general—but posting uncivil and/or unsubstantive replies isn't a solution. Edit: unfortunately looks like you've been doing this repeatedly. This one is worse: https://news.ycombinator.com/item?id=12519373 https://news.ycombinator.com/item?id=12519373. Please stop posting like that.
- dTal 10y ago>They vary in intensity from having to put ingredients on the bottle to outright banning incandescent lightbulbs, from corn subsidies to fixed rates in medicare, and from getting a drivers license to getting an MD. >But if you have a strong enough safety net to keep people out of the desperation trap of needing money or resources to sustain their livelihood you can also eliminate swathes of the regulation that restricts markets without negatively harming those at most risk for being taken advantage of, because the state institution provides a floor on what the worst possible outcomes can be. I can't really reconcile these. Worst case scenario for not putting ingredients on a bottle? Death. Worst case scenario for being treated by an unlicensed MD? Death. Not requiring a drivers license? Death. Even the lightbulb one - death, in a few decades, from flooding. Specifically what kinds of regulation can you get rid of?