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While there are probably things that would be improved in a "proper" free market, I feel like that's overestimating the average person's ability to make informe
by e_y_ 6y ago
While there are probably things that would be improved in a "proper" free market, I feel like that's overestimating the average person's ability to make informed decisions.
There will always be an information and power asymmetry between ordinary people/consumers and special interests/corporations.
Sure, people could form consumer rights groups, boycott companies with unconscionable data collection policies, demand a sane and afforable health care system, etc. But people have a limited attention budget. It's just too hard to care about everything, so people don't.
That's also why we don't have proper regulation; if we cared about having a functional, efficient government we would, but we don't really care that much.
- Shared404 6y agoWhat I would be banking on most within a "proper" free market would be corporations ability to fail in extraordinary circumstances, as opposed to the current setup where it seems like corps get bail-out after bail-out. With this being the case, more small companies would be able to compete, at least in theory. That being said, I believe you are correct. It just seems that the only way to improve things is to get to the point where people do think before purchasing, regardless of the state of State. As far as having an efficient state goes, I would find it more likely that it's not going to happen because those in power have incentive to maintain the current status. It both provides opportunities for corruption and gives an excellent platform to run on.