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Only considering market forces and saying the market will fix itself is a shortsighted argument. We live in a society and the market does not factor in societal
by locococo 4y ago
Only considering market forces and saying the market will fix itself is a shortsighted argument. We live in a society and the market does not factor in societal impacts in terms of the "greatest good". Markets need a balancing counter force to make sure eggs are not only available to the rich and the poor are exposed to malnutrition.
I say this because in the US we have this dominant idea that there is nothing better than not interfering with the market while forgetting that the market is only valuable to society if it serves our greater good. The statement that price controls do more harm than good is not true in a general sense.
When society chips in to save banks no one seems to have a problem with that, try to make eggs affordable is blatant overreach.