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The free market working at its most efficient.
by qwsxyh 7y ago
The free market working at its most efficient.
- deleted 7y ago[deleted]
- bsaul 7y agoI’m curious to understand what you mean by free market. Civil aviation is probably among the most regulated industry you could find, isn’t it ?
- neuronic 7y agoWith free market he means that the FAA outsourced certification to Boeing. They did it in order to cut costs and save resources.
- cultus 7y agoActually, it looks as if it wasn't that strictly regulated, hence the hundreds of deaths because Boeing was allowed to self-certify. The magic of the free market was indeed at work here, producing value for shareholders.
- fuzz4lyfe 7y agoTheir competitors were highly regulated, preventing them from existing in the first place. As always in incumbent firm wrote the regulations and defacto decides who is in violation or not.
- cultus 7y agoThe economy cannot be separated from the government. If large capitalist interests exist, they will exert power with the government, in the form of influencing regulations or other rent-seeking. Thus you cannot have a "fair" capitalist economy. It would be nice if capitalism worked as it did in econ classes, but it doesn't with real humans.