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> The market plays a role in preventing this. > The market is the ecosystem which provides predators which hunt and kill the decrepit organizations that have t
by FridgeSeal 9y ago
> The market plays a role in preventing this.
> The market is the ecosystem which provides predators which hunt and kill the decrepit organizations that have too much rent-seeking behavior internally.
Is this comment satire? It's seriously so deep in some kind of magic-market-fetishism that I actually can't tell.
If anything, the less several years has shown us that the magic hand of the 'market' is neither effective, nor it seems, even real: as soon as things turn slightly against them, those businesses with the means simply change the game so that it favours them again which makes the argument that 'the market is the ecosystem...kill the decrepit organisations' pretty much moot.
Look at Fannie May and Freddie Mac (spelling? I'm not American so I'm not terribly familiar with them) 'too big to fail' they said. Until they failed. And then, instead of failing like they would in a 'real' free market system, they went and groveled so that the Government had to step in and save them. Real good free market system there.
- closeparen 9y agoYour argument is that the market doesn't work because bad things happen when we bypass it? Shall we not bother with firefighting, since the fire only gets worse when you replace the water in the hoses with oil?
- deleted 9y ago[deleted]
- watwut 9y agoFannie May and Freddie Mac were not private companies, the others involved in scandal were.
- sharemywin 9y agotoo big to fail isn't that they couldn't fail but if they did they were so entwined in the economy if they do they government needs to step because the consequences would be devastating. ie worse than the depression.