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Not so sure you can attribute 250y of gains solely to markets. In fact much of the health gains come from government funded research. Now, you admit collective
by paulryanrogers 4y ago
Not so sure you can attribute 250y of gains solely to markets. In fact much of the health gains come from government funded research.
Now, you admit collective action is needed. Great. Because unbridled markets gave us slavery, child labor, 12h-7d work schedules, company towns, the food pyramid, greenwashing, and robber barons.
So the solution to externalities is largely collective action. Because obviously the market alone didn't make emissions trading happen. Markets were backed into a corner. And it feels like a half assed solution considering we don't need to burn coal any more. The market just values profit more than quality of life of those near the site of production.
If we look solely to markets and careless regulation then the biggest companies will capture regulators. Then we're on the path to modern day feudalism. Seeing Amazon hollow out local competition only makes this feel more and more real here in the Midwestern US.