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In the long run regulation (read artificial market manipulation) hurts everyone. Law/regulation (as well intentioned as it may be) always moves slower than peop
by marcrosoft 10y ago
In the long run regulation (read artificial market manipulation) hurts everyone. Law/regulation (as well intentioned as it may be) always moves slower than people's wants and needs.
- dontreact 10y agoWhat about cases where the free market is known to poorly allocate resources? I'm talking about negative externalities and public goods. As a concrete example, take regulation regarding pollution that is known to be harmful to humans and therefore have a large cost. The free market will not generally take this cost into account.
- marcrosoft 10y agoIf the public majority want to favor the environment over cheap rides that's fine. I just want the public to decide unanimously with their dollars. If pollution becomes a large enough problem to sway the public at large to reallocate their dollars I firmly believe they will react in each individual's best interest.
- aaronblohowiak 10y agoLead paint, asbestos, usury, food standards, heroin addiction (thanks, Bayer!) seatbelts, traffic lights, etc etc. In a world where all information was equally distributed, sure, maybe anarcho capitalism would work.
- marcrosoft 10y agoFortunately, with the internet the knowledge about all of these subjects are known. I'm not saying people won't make mistakes even with 100% knowledge of a given subject. I'm just saying it should be the people themselves to make the mistakes, not a select few.