3 ms·
Really? These are irrelevant, invalid, or great examples of misguided govt intervention 1) Ecuadorian govt lost in international courts and us courts. Overall
by sershe 4y ago
Really? These are irrelevant, invalid, or great examples of misguided govt intervention
1) Ecuadorian govt lost in international courts and us courts. Overall this case is irrelevant to free markets either way, but it's quite believable that it's a post factum shakedown attempt by a corrupt govt.
2) baby formula is extremely regulated. The factory was shut down by the govt, market is hard to enter due to regulation, imports are very restricted by the govt, even e.g. from Europe.
3) Insulin is the same story - govt restricts imports AND production. Intellectual property regime (which I d argue is one of the few good things the govt does - but it has nothing to do with free markets) is also at fault, although as far as I understand less so for insulin, perhaps for newer products. Not even getting into overall healthcare incentives screwed up by govt action (employer based health insurance, etc.).
4) dunno much about diamond, but I'm going to assume the example is just as bogus as the others.
5) I got great frames online for like $35 (there were cheaper ones too, didn't look as nice); my prescription is very high so these were not Walmart checkout glasses, either. Free market in action! I sure hope govt doesn't regulate it and force me back to local price gouging optometrist again, "for my own safety"!