| ▲ | lapcat 3 hours ago | |
> That objection applies to the other options as well. True. > I like the market because it lets me make more choices of my own. What about when it doesn't? Markets consolidate. They form monopolies and duopolies. The only counterbalance in this situation, the only entities more powerful than massive multinational corporations, are governments and regulators. I think the problem is the faith that any system will self-regulate, whether the system is economic or political, as if we can just write the founding rules of the system, and then the system will take care of itself and operate to the greatest benefit of the public. Markets can get captured by wealthy interests. Governments can get captured by wealthy interests. Corruption is perpetual. Those who seek benefit for themselves will interfere in the system, so those who seek to preserve the public benefit must also interfere in the system. Not the invisible hand but eternal vigilance is required. The question is not whether the government will interfere in the markets; the question is who will control that interference, the masses of voters or the much smaller "donor" class. | ||
| ▲ | bluGill 3 hours ago | parent [-] | |
Every system can be captured by wealthy interests. Markets are not unique there. Once in a rare while someone not wealthy captures a system - but they inevitably use that capture to become wealthy so it doesn't really matter. Classical liberalism is the least likely for that to happen to, but it has happened there too over and over in history as well. I still support classical liberalism, which is not the same as supporting the market even though classical liberalism ends up being a market. | ||