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I know you only implied it but be careful with causation here. We know that there are situations where the free-market does not lead to ideal outcomes. Does it
by dwallin 3y ago
I know you only implied it but be careful with causation here. We know that there are situations where the free-market does not lead to ideal outcomes. Does it not seem likely for government to involve itself more in areas where the free market is most likely to fail?
- complianceowl 3y agoYou mean like involve itself in housing by requiring the industry to grant a certain amount of home loans to make the "American Dream" a reality, thereby creating a housing market bubble, then when the bubble popped and tanked the economy, blamed it on the banks?
- pydry 3y agoThe free market is a neoliberal fairy tale. A mystical idea. A hypothetical concept. There are no markets anywhere which are unsullied by the "dirty" touch of government in this reality. Government intervention also covers such a broad range of things that you can't lump them under one umbrella. Governments routinely create competition in some markets and suppress it in others and prices behave accordingly. This idea doesnt fit in a soundbite unfortunately but "government bad, regulations bad, markets good" is catchy. Thats why this soundbite message was carefully marketed to an American audience by Koch think tanks in response to their epic fights with the environmental protection agency.