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I think it would be more correct to say that American liberals tend to dismiss the power of the market to produce the optimal result across all concerns not jus
by guelo 12y ago
I think it would be more correct to say that American liberals tend to dismiss the power of the market to produce the optimal result across all concerns not just GDP. Markets do a poor job at things like protecting the environment, and egalitarianism. Also, markets in practice tend to obstruct the sharing of information that is needed by theoretically ideal markets. Also, as capital accumulates free markets tend towards forming monopolies.