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It doesn't matter whether the market is right or not. What matters is that the market is. Politicians routinely forget that. Communism's core failure was ignori
by bermanoid 15y ago
It doesn't matter whether the market is right or not. What matters is that the market is. Politicians routinely forget that. Communism's core failure was ignoring the irrepressible nature of market forces. The same applies to our system of capitalism.
And libertarians routinely forget that the unwashed masses actually want social programs and regulations, and they hate seeing people get rich off of "the market" by doing things that seem abusive. They want public services like police, fire, ambulances and schools. They want to have some assurance that when BigCo tries to get anti-competitive and monopolistic someone will step in, and they want to know that if the CEO shorts his own stock in anticipation of bad news that nobody else knows about he will be punished for it rather than profit. Libertarians may not want any of this because of their philosophical and economic leanings, but most other people do...
Why is it that the free market is such an immense force that we should uncritically accept that it is unchangeable, yet the desire of millions of people to control it, regulate it, or otherwise make it work for everyone instead of only the richest of the direct participants is somehow negotiable?
I understand that you're saying that nothing we can do will change the markets, all I'm saying is that it's just as possible that nothing we can do will make people happy about the way they function uninhibited, so maybe there's a good reason we've ended up somewhere in the middle.