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We have hundreds of years of examples of the blessed free market failing to do exactly that. If the free market had it's way we'd still be under the yoke of St
by TylerE 2y ago
We have hundreds of years of examples of the blessed free market failing to do exactly that.
If the free market had it's way we'd still be under the yoke of Standard Oil and Ma Bell.
One key element of a free market is the "well informed consumer". How is the consumer supposed to be informed about what new cutting edge chemicals are toxic, for instance?
- dotancohen 2y agoFor the hundreds of years of examples, we have not had an interconnected network with information available to almost every human on the planet.
- TylerE 2y agoNot a free market project. Funded by the US military.
- anticensor 2y agoand quite a lot of research institutes around the world
- lxgr 2y agoInformation is good, but it doesn't automatically imply that you have an actionable path in getting what's legally yours. Besides that, the Internet hasn't nearly eradicated the inherent information and attention asymmetry between consumers and companies employing people full time to make sure they end up on top for every interaction you have with them. Consumer protection regulations, especially those regarded trading and credit, cast a very long shadow (ray of sunlight?) you're possibly unaware of, but still immensely benefit from. Obviously there are diminishing returns and unintended/negative effects to consumers too sometimes, but throwing protections out completely in favor of a "pure free market" doesn't do these asymmetries justice.
- deleted 2y ago[deleted]