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Nobody said anything about not having governments. Rule of Law is required for societies to even exist. Read some more on the robber baron era - you'll find ou
by nickpp 3y ago
Nobody said anything about not having governments. Rule of Law is required for societies to even exist.
Read some more on the robber baron era - you'll find out Standard Oil was already losing to competition before government action. For another great example how the free market broke a cartel, read up on how Dow Chemical fought the German bromine cartel:
https://en.wikipedia.org/wiki/Herbert_Henry_Dow#Breaking_a_monopoly https://en.wikipedia.org/wiki/Herbert_Henry_Dow#Breaking_a_m...
No government intervention necessary.
- lmm 3y ago> Nobody said anything about not having governments. That's very clearly where you're going with this though. > Point me to a resistant monopoly or cartel and I will show you a government granted/supported one.
- nickpp 3y agoPlease don't put words in my mouth. Government's role in a free market economy is quite essential: upholding rule of law (specifically contract law) and taxing externalities. Overreach is the problem though (like regulating the charging port on my damn phone).