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Absolutely government’s fundamental role in human society is regulating against harm. But somehow the narrative is markets are “bad”, they obviously aren’t as
by alchemist1e9 3y ago
Absolutely government’s fundamental role in human society is regulating against harm.
But somehow the narrative is markets are “bad”, they obviously aren’t as they seek out information and efficiency, which is a good thing. Markets are the one’s you should thank for telling you child labor, slaves, and sweatshops are a problem, and the environment issue, so you pressured your government to regulate those issues. Without free markets the alternative would be the government doing all those horrible things, which btw they certain used to.
People are mixed up, the primary problem is government failure to regulate and be transparent. It’s very difficult for governments to admit they create the problems so academics and politicians find the boggy man of markets.
Kennedy understands this topic well and while it’s unlikely he will win, I deeply hope he can somehow.
We need more markets for more things with clear and clean regulations build based on empirical evidence and scientific and not created by lobbyists involved in regulatory capture.
- ajuc 3y ago> But somehow the narrative is markets are “bad” The mainstream opinion is "markets are ok as long as they are well regulated". The only narrative that is trying to compete with that with any success is "markets are perfect without any regulation". Which provokes the rebuttal you refer to. I've yet to see anybody claiming seriously that "markets are inherently bad and can't be saved". Even in communism there were markets, as abysmal as that system was (and I lived in a communist country for 6 years). If our markets right now were regulated enough - we wouldn't have global warming problems. Clearly there's a lot of externalities that aren't priced-in. So - there's too much market and too little regulation.
- alchemist1e9 3y agoWe likely actually agree. The issue is politicians tend to push redistribution and direct action of the government over rules and regulations.