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Governments fix market failures all the time. For example, there is not a single country on earth with unregulated environment policies, a high standard of livi
by cornholio 4y ago
Governments fix market failures all the time. For example, there is not a single country on earth with unregulated environment policies, a high standard of living, and where the air is still breathable and water potable. Or one with no food safety regulations where street-food is somehow magically 100% safe to eat by virtue of the invisible hand. Or where banking is reliable despite no financial regulation. Or where justice is equitably delivered by for-hire private judges.
Those things take coordination and effort to achieve, and some governments do achieve them, some to such a large extent that we come to take them for granted.
- pdonis 4y ago> Governments fix market failures all the time. Governments claim to fix market failures all the time. That doesn't mean they actually do. > Those things take coordination and effort to achieve That is true, but governments are not the only way to do coordination. In fact they are usually the worst way.
- pdonis 4y ago> there is not a single country on earth with unregulated environment policies, a high standard of living, and where the air is still breathable and water potable. Or one with no food safety regulations where street-food is somehow magically 100% safe to eat by virtue of the invisible hand. Or where banking is reliable despite no financial regulation. Or where justice is equitably delivered by for-hire private judges. This is historically false. There have been many human societies in history that have done at least as well, if not better, than societies with governments at providing these things, taking into account the available technology of the time. Also, you are assuming that societies with governments have all of these wonderful blessings. That is, to say the least, not obvious.