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Amazing how people switch their principals regarding free markets when it suits them. Especially rich people. When consumer protection laws are drawn up, they
by ynniv 14y ago
Amazing how people switch their principals regarding free markets when it suits them. Especially rich people.
When consumer protection laws are drawn up, they will be the "end of America". When financial institutions have bankrupted themselves, they "need to be protected". It's "progress" to prevent people from bringing food onto private property so that you can massively overcharge them for unhealthy foods. It's "gouging" to allow others to charge more when demand far exceeds supply in an emergency.
I agree that leaning solely on price in all circumstances is a poor way to balance supply and demand. And I don't want anyone to forget how this works when social sacrifices are demanded for "American success" in the future.
- eru 14y agoIt is interesting how your first two paragraphs don't connect with your third. Shouldn't the right reaction against the hypocracy be to have firm and simple principles, like relying on price as a signal?