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Ahh, what’s an example of capitalism working sanely in a regulated industry?
by monadic2 6y ago
Ahh, what’s an example of capitalism working sanely in a regulated industry?
- true_religion 6y agoAll industries? At no point do we have pure unregulated capitalism anywhere in the modern world. But for a specific example of high regulations and decent outcomes look at the food industry, whether that be restaurants or the food supply chain or farms. All of it is highly regulated for good reason.
- chrisco255 6y agoI'm not sure about all the regulations being for good reason. Some do exist to protect existing players, like taxi medallions. And some, are perhaps outdated in the name of "protecting the consumer" when online reviews and reputation systems tend to achieve similar results with little oversight.
- untog 6y agoThere’s a difference between “regulation is a good reason” and “the regulations that were created are good”. Taxi medallions is a good example: NYC streets were flooded with taxis and it was slowing down traffic. And there weren’t enough passengers for drivers to make a living. So limiting the numbers did make sense. But the way it was implemented was far from perfect.
- monadic2 6y agoErr, is “industry” of all things what society is supposed to optimize for? That just seems like a shitty conception of both the point of industry and governance itself. In any case if you think commodities industries are working healthily I really have to disagree. Most products are unnecessarily expensive crap. We have little consumer choice in most markets critical to people’s health and livelihood and no way to incentivize improvements.