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I'm usually in the "regulation is bad" camp but one thing I find myself saying more and more is that you can't have an ideal market if people are allowed to lie
by macksd 5y ago
I'm usually in the "regulation is bad" camp but one thing I find myself saying more and more is that you can't have an ideal market if people are allowed to lie about and hide their prices. It's one of the reasons health care isn't a very good market in the US, and it's one of the reasons people don't like this practice.
Essentially companies are getting away with lying about their prices until after a purchase has been made. In an ideal free market, people can't lie just lie about their prices and get away with it because "everyone does it". So enforcing honesty on this particular point at least would be good of you like free markets.
- systemvoltage 5y agoRegulations that improve fairness of competition without any side-effects get my vote even though I generally hold the view that less-regulatory environments are more conducive to innovation and efficiency.