3 ms·

So who do you propose to be the centralized authority?

• kranke155 5y ago
  I never suggested anything of the sort. I would think a reading of history - ie the book "How Asia Works" has a lot of material on this - shows that there is a hybrid model where intervention of the govt is needed to "steer" the direction of things in order to ensure sustainable income and economic growth. I highly recommend reading that book for an alternative history on how Germany, Korea, Japan and China have succeeded while the West has mostly stagnated.
• kspacewalk2 5y ago
  The governments. They recognize market failures and mitigate with things like the carbon tax. In fact, the whole concept of a market, even the traditional physical one, by definition implies regulation with enforcement (e.g. weights and measures). Without those, there's no market, there's just a free for all.