Free Marketing

[aelfscine]

newedition made some points on free markets and government regulation that I want to respond to.  She was talking about the new credit card bill:

"The bill is nonsensical for at least two fundamental reasons. First, it assigns government the authority to regulate business. Second, it violates the right of individuals to freely enter into contracts. Such is

Comments

[newedition]

"I'm generally in favor of a free market, except that I don't believe that's that's what we've been having. I think we've been having a rigged free market, and that's when I think government intervention is needed."

We *do* have a rigged system, which is, by definition, not a free market at all. The only possible market rigging authority is the government, and so the solution is not to increase government interference but to remove its authority.

I have to disagree with your use of health care as an example of a free industry that robs people. The sickness industry is one of the most regulated. Exorbitant costs and inefficiencies are caused by regulations. See the following articles by Harry Browne for explanation and an example of less regulated industries with a different outcome:
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=28477
http://www.wnd.com/news/article.asp?ARTICLE_ID=24068
http://www.harrybrowne.org/articles/HealthCare.htm
http://www.wnd.com/news/article.asp?ARTICLE_ID=22171
(Thank you to Anarchrist for finding these sources. http://www.blogger.com/profile/06159681216445064935)

With regards to new home buyers being lied to by experts-- these experts were *certified* real estate agents, *licensed* financial planners, etc. They met government requirements for being certified and licensed and were simply following government directives about trying to get more people in homes-- the democrats believing everyone deserves a house and the republicans believing that home-buying beyond one's means stimulates the economy. Laws and regulations are not the answer.