3 ms·

That's just not borne out in looking at the many markets already functioning under various regulatory schemes for decades now. Lots and lots of markets work as

That's just not borne out in looking at the many markets already functioning under various regulatory schemes for decades now. Lots and lots of markets work as markets, and have fundamentally voluntary transactions, even though certain kinds of transactions are restricted. We've been living in that world for a long time now, and while there's room for debate about what's most functional, there's no credible way to claim that there aren't any functioning markets these days.

pdonis 5y ago
> That's just not borne out in looking at the many markets already functioning under various regulatory schemes for decades now. If markets under all the regulatory schemes we have were actually "functioning", we would not have all the economic issues we have. For example, we would not have the supply chain issues that are currently making the news. We would not have had the crash of 2008, or the Great Depression for that matter. I could go on and on. > there's no credible way to claim that there aren't any functioning markets these days. I made no such claim. You're attacking a straw man.
- GavinMcG 5y ago
  No, I'm attacking the logical implication of your statement. It's a reductio ad absurdum. You said for a market to work "at all" as a market, it must have voluntary transactions, and people must be able to engage in the transactions of their choice. But nearly all markets do not have those features. Ergo, nearly all markets are not able to work at all, under your premise. Accepting that most markets do work to a substantial degree, your premise must be wrong.
  - pdonis 5y ago
    > nearly all markets do not have those features. This is not true. Many markets do have those features. They just don't make the news because there are never any newsworthy issues with them.

3 ms·

That's just not borne out in looking at the many markets already functioning under various regulatory schemes for decades now. Lots and lots of markets work as

by GavinMcG 5y ago

pdonis 5y ago
> That's just not borne out in looking at the many markets already functioning under various regulatory schemes for decades now. If markets under all the regulatory schemes we have were actually "functioning", we would not have all the economic issues we have. For example, we would not have the supply chain issues that are currently making the news. We would not have had the crash of 2008, or the Great Depression for that matter. I could go on and on. > there's no credible way to claim that there aren't any functioning markets these days. I made no such claim. You're attacking a straw man.
- GavinMcG 5y ago
  No, I'm attacking the logical implication of your statement. It's a reductio ad absurdum. You said for a market to work "at all" as a market, it must have voluntary transactions, and people must be able to engage in the transactions of their choice. But nearly all markets do not have those features. Ergo, nearly all markets are not able to work at all, under your premise. Accepting that most markets do work to a substantial degree, your premise must be wrong.
  - pdonis 5y ago
    > nearly all markets do not have those features. This is not true. Many markets do have those features. They just don't make the news because there are never any newsworthy issues with them.