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I feel like you didn't really respond to my point. Anyway, people of course respond to incentives. However, that doesn't always means that the outcomes will be
by scoopertrooper 5y ago
I feel like you didn't really respond to my point.
Anyway, people of course respond to incentives. However, that doesn't always means that the outcomes will be positive. There is such a thing as a perverse incentive, even in a free market utopia.
- WalterBright 5y agoPerverse incentives in a free market are often the unintended result of regulation. For example, regulations to make it harder to fire people have the result of making employers pickier about who they hire.
- scoopertrooper 5y agoThe problem with you Murray Rothbard types is that you all too readily descend to panglossianism when evaluating market outcomes. It's no great insight that markets are generally the most efficient means of allocating resources. However, it's also no secret that greedy individuals will gleefully extract economic rents from their monopoly over resources when they feel free to do so.