▲ | roenxi 5 days ago | |||||||||||||||||||||||||||||||
> Markets don’t account for externalities But on net the externalities are just as likely to be doing more good than bad. I've yet to see anyone in the public debate tallying up the positive externalities of markets. "They have externalities!" is likely to be an argument in favour of free markets, without the positive externalities a free market generates we would be poorer and more uncomfortable - it doesn't take much looking to find a whole raft of spinoffs where free market activity generates positive externalities. Things like https://en.wikipedia.org/wiki/Baumol's_cost_disease where through no action of their own actors and musicians get a lot more money than in medieval times purely to represent the alternatives the market offers them. | ||||||||||||||||||||||||||||||||
▲ | zelphirkalt 5 days ago | parent [-] | |||||||||||||||||||||||||||||||
I mean, you can easily observe it. Look at Germany. Not investing sufficiently into education, public Infrastructure, hospitals, and probably more. Inefficient bureaucracy everywhere. Long term effects already visible and only becoming more pronounced. People have a 4y political memory and electing the same shit again. This apparently will continue until we hit rock bottom. I just hope others will be ready to face angry German mobs this time around. Of course there is also a chance that we will finally learn something as a society and prevent bad things from happening. An admittedly tiny chance, but it exists. | ||||||||||||||||||||||||||||||||
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