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> it was able to eliminate awful practices like child labor. I dont see how the free market eliminated child labor. I see government regulation as eliminating

> it was able to eliminate awful practices like child labor. I dont see how the free market eliminated child labor. I see government regulation as eliminating child labor. I agree with you on the principle that putting more dollars in poor economies is a good thing. But I cannot reconcile that with the fact that those economies are attractive to businesses primarily for the purpose of circumventing rules and established practices that help us (healthcare and environment, for example). I was watching videos on youtube about the Bangladesh shipbreaking industry. All these western corporations used the ships to make money, then circumvent all environmental regulation by disposing / selling them to Bangladesh for scrap where the toxins go into the sea, workers paid $2/day have no safety gear for dealing with chemical/fall/crushing/burning hazards, and the handful who own the companies reap tremendous profits selling the scrap steel. Everyone wins...except for the poor, who risked/reduced their lives for the awesome consolation of a few bucks (not even considering any marine life that once lived nearby).

digitaltrees 10y ago
My argument is not that free markets solve all problems. I freely accept that only government can solve collective action problems like global warming, create universal education and health care, prevent the race to the bottom tendencies of competitive commerce that incentivized bad practices like child labor and environmental pollution; but you will never be able to strengthen divergent regulatory systems unless you have unified economic relationships. Globalization that creates greater interconnected economic systems will result in improved safety standards in all of these markets. We are seeing that play out in the developing world; but this is not an immediate process - it takes generations. It takes the local population fighting for better systems. It takes the pressure from trading partners like the U.S. demanding that employee protections be put into place. Isolating ourselves behind a wall of tariffs is not going to help these ship workers in Bangladesh.

digitaltrees 10y ago

My argument is not that free markets solve all problems. I freely accept that only government can solve collective action problems like global warming, create universal education and health care, prevent the race to the bottom tendencies of competitive commerce that incentivized bad practices like child labor and environmental pollution; but you will never be able to strengthen divergent regulatory systems unless you have unified economic relationships. Globalization that creates greater interconnected economic systems will result in improved safety standards in all of these markets. We are seeing that play out in the developing world; but this is not an immediate process - it takes generations. It takes the local population fighting for better systems. It takes the pressure from trading partners like the U.S. demanding that employee protections be put into place. Isolating ourselves behind a wall of tariffs is not going to help these ship workers in Bangladesh.