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This seems like "in the long run" eventually-we'll-get-to-933-then-everything-will-be-better thinking, and if so it lies at the root of the problem: market forc
by leot 13y ago
This seems like "in the long run" eventually-we'll-get-to-933-then-everything-will-be-better thinking, and if so it lies at the root of the problem: market forces are non-stationary, making equilibrium-based-reasoning necessarily flawed. Most of those who work all day every day selling X have consistently been able to develop and exploit profitable inefficiencies more quickly than the market can correct them. As such, the success of such proposed free-market solutions depends on the particulars of how the system's higher-level dynamics are parameterized. In other words, naive deregulation and free-market-introduction will not reliably improve things, and could make (/definitely have made) things much much worse.
Just as there's no communist utopia, there's no laissez-faire promised land.