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> in time it does work out largely in that direction To be fair, that's usually thanks to government interventions and regulations, not thanks to free market s
by nikitaga 2y ago
> in time it does work out largely in that direction
To be fair, that's usually thanks to government interventions and regulations, not thanks to free market staying free.
Markets fail for very known, very well described reasons. When they do, they rarely recover on their own, and the abusive rent seekers only become more entrenched with time (again, in the absence of regulations to curb that).
In this startup community we see a lot of "disruption" (free-market-success) stories, but in the broader world, things don't usually work out that way, and when they do, it's often just to replace one rent seeker with another.
https://en.wikipedia.org/wiki/Market_failure https://en.wikipedia.org/wiki/Market_failure
- SlightlyLeftPad 2y agoDefinitely, my intent wasn’t to hand wave away the role government plays there. The lag that is inherent in some regulatory departments though seems too long and it’s the working class that suffers to most. I think FAA and NASA are good examples of largely well-run departments while the SEC, EPA, and FDA appear to be largely a sham who really let corporations get away with literal murder to the detriment of the greater good. Things have to get extremely bad before they are able to do anything perhaps because their authority is stripped.