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That's a good question. So, 2008 was a major problem and financial institutions brought that on themselves. But that's - fortunately, even though there were sig
by jacquesm 10mo ago
That's a good question. So, 2008 was a major problem and financial institutions brought that on themselves. But that's - fortunately, even though there were significant knock on effects - limited to one very important slice of the market, not unlike say when Enron went bust or when the .com bust happened. The rest of the free market is what pulled us out of those things.
Free markets are on balance a good thing, assuming a level playing field and regulations to curb externalization and monopolization as well as cartel forming.
- consp 10mo agoSo you are arguing for a regulated market, not a free one. Heavy anti-trust legislation and enforcement is needed for a healthy economy. This might lower the year-over-year stock raise but at least keeps the negative excesses somewhat in check (monopolization, power concentration, rent-seeking).
- jacquesm 10mo agoAll markets are to some degree regulated. Saying that these are then not free markets is a fairly hardcore libertarian viewpoint, which tries to make it a 'black and white' issue, whereas in reality things are often more nuanced.