2 ms·
The market is a system constantly re-evaluating itself to reach equilibrium. It's a very weak view of the market which takes away from it the ability to take in
by Weltan 13y ago
The market is a system constantly re-evaluating itself to reach equilibrium. It's a very weak view of the market which takes away from it the ability to take into account government 'interference'. Indeed, most governments don't interfere too often, prostitution and gambling have been illegal for decades in the US (legal where I live, however). I don't need to factor these things in, because the market has already factored them in. What government interference implies is a sort of Old-Testament God, who constantly interferes with its subjects. Governments try their best to interfere very little, they make sure inflation stays low-ish, they don't suddenly change economic policy except in crises. Government "interference" (the better word you might use is 'existence', since this is what I think you mean) is an ever-present fact of the market and the market has always taken it into account.
- snitko 13y agoI just pointed out a number of sources of unemployment originating from government interference and you just replied with "but government interference always existed, therefore it cannot be a reason for unemployment". That's not an argument.
- Weltan 13y agoDid I say that? I didn't realize I made such a categorical statement! I thought I said that the market already takes the government into account, not that the government cannot be a reason for unemployment. The government certainly could be a reason for unemployment, but that doesn't mean it is always the reason for unemployment, nor does it mean that proper regulation necessarily leads to lowered employment.