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Old 08-14-2019, 12:02 PM
DrDeth is offline
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Join Date: Mar 2001
Location: San Jose
Posts: 42,432
Originally Posted by Corry El View Post
To state a little differently, free markets are the best way to most efficiently distribute limited resources, with rare exceptions. But society can always, and modern countries always do, decide to sacrifice efficiency to some degree at the margins in favor of subjectively perceived 'fairness'. It's a judgement call how to do that, but one basic point of disagreement would be whether to do it by interfering with the basic functioning of markets, or to just subsidized people who are deemed to suffer unacceptable outcomes in market competition.
The lesson learned from the robber barons in England and the uSA, with disastrous crippling monopolies and terrible attack on competitors shows that this simply isnt true. Left to itself, the "free market' with in a few years no longer be "free'.