4 ms·
"we could either break it up".. aka, the market not handling things at all, and government intervention being necessary. There's a whole set of well-defined p
by jbooth 17y ago
"we could either break it up".. aka, the market not handling things at all, and government intervention being necessary.
There's a whole set of well-defined problems in which everyone following their individual interests, the "invisible hand" so to speak, lead to a clearly terrible situation -- monopolies, prisoners dilemmas (collusion), tragedy of the commons (pollution, resource extraction, public education)..
Talking about how "ideally the market would take care of those problem" is just silly, the market will categorically not care about those problems -- it's not an intelligent force, just a sum of individual actions.
I hate my health insurance company, cable company and cell phone company -- what are my options here in this supposedly free market, start my own multi billion dollar nation-spanning infrastructure?