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I fixed that for you.
You need to read up on the idea a bit more. Monopolies exist in a free market if it at all for a very short period of time due to the lack of government.
You should re-read his post. He didn't say that monopolies don't exist in a free market. He said, in a free market, monopolies will dominate the economy
Japan also makes great cars. I have read that all employees involved in the manufacturing process are paid very well, included in the decision making process and many other way that their employees are treated better. Yet somehow here in the U.S. we seem bent on treating employees like crap and making the decision making process only in the hands of a few ... our cars are also crap ... hmmm .. perhaps we should be taking notes
Protecting unions is also a form of govt involvement in the economy. Allowing immigrants like your ancestors into the country is a form of govt involvement in the economy.
I did read it and I said he needs to read up on the idea if he thinks its possible to maintain it.
Unions can exist naturally in the market, they just can't have the power they posses naturally in the market.
Immigrants has an effect on the market yes, but the government is only playing with the demands of the market. The market however is still free.
If free markets have never been practiced, how did they lift people out of poverty?
I didn't say free markets have never existed. Sangha said, "And we are saying that your "theory" is nothing more than a myth that has never existed in real life because it is a major FAIL" to which I asked how it could have failed if it has never been practiced...
The same way libertarianism has failed without ever having been practiced --- In the marketplace of ideas
Please tell us when and where this imaginary "free market" lifted anyone up from poverty, and I'll show you a market that the govt is taking part in.
Free Market Definition: An economic system in which prices are determined by unrestricted competition between privately owned businesses.
So based on that definition, I think it is pretty clear when and where the free market has lifted people up out of poverty. Of course, I'm sure you could talk to some Cubans about how great government price fixing works.
How can it have failed if it has never been practiced? Free markets have done more to lift people out of poverty than any government could ever dream of doing.
Regardless, the fact remains that the govt was involved in the economy. Your example is not an example of a free market
So I'll ask again: Can you name when and where a free market has lifted people out of poverty? Then I'll explain why it wasn't a free market (again)
Free Market Definition: An economic system in which prices are determined by unrestricted competition between privately owned businesses.
So based on that definition, I think it is pretty clear when and where the free market has lifted people up out of poverty. Of course, I'm sure you could talk to some Cubans about how great government price fixing works.
Has free market become synonymous with laissez faire?
the Tax Foundation — a conservative Washington-based think tank — has, however unintentionally, provided the answer. In 2007, the foundation published a survey of 2005 federal spending in each state and compared that with each state’s contribution in federal taxes. In other words, the foundation identified the states that sponge off the federal government and those that subsidize it. The welfare-queen states and the responsible, producing states, as it were.
The list, alas, hasn’t been updated — in part, no doubt, because conservatives didn’t like what it revealed: that those states that got more back from our government than they paid in were overwhelmingly Republican. The 10 biggest net recipients of taxpayers’ largess were, in order, New Mexico, Mississippi, Alaska, Louisiana, West Virginia, North Dakota, Alabama, South Dakota, Kentucky and Virginia. The 10 states that paid in the most and got back the least were New Jersey, Nevada, Connecticut, New Hampshire, Minnesota, Illinois, Delaware, California, New York and Colorado.
Actually, sangha is right, you said more than "How can it have failed if it has never been practiced?" .... you also said (in the same post) "Free markets have done more to lift people out of poverty than any government could ever dream of doing" ... see above quoted and your post .. post #337 I believe.
Well, working for a Japanese OEM supplier I can tell you that they all pay a decent living wage, specifically I know Toyota and Honda pay excellent and they all have very good, cheap, and sometimes free insurance. In my case, I am free medical, eye, and dental, while my daughter cost me just an extra $20 a week.
Sangha said, "And we are saying that your "theory" is nothing more than a myth that has never existed in real life because it is a major FAIL". So sangha made the argument that the free market has never existed. I responded by asking how he could call the free market a failure if HE/SHE doesn't believe the free market ever existed. So I'm not sure what exactly you are arguing, but I didn't claim the free market never existed.
Yeah, umm .. I am pretty sure preventing monopolies are restrictions on competition ... are you saying that there is a time when there was no restrictions on competition?
There is a Hino manufacturer near my house (Toyota). They pay far less than domestic truck builders pay.
Sherman Antitrust Act in 1890 was the first piece of federal legislation to prevent monopolies/cartels.
I find that hard to believe ... still, do you live in the U.S.? Or Japan? Because Toyota is a Japanese corporation ... the research study I was referring to in my original post regarding better treatment of employees, was done in Japan
It really doesn't matter anymore ... just that in your post (#337), you said that free markets have lifted people out of poverty .... sangha was asking for an example of that ... as am I
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