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Old 09-27-2019, 02:43 PM   #7129 (permalink)
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free market

Originally Posted by redpoint5 View Post
I'll throw in that part of the so-called laissez-faire failing is due to a non-laissez-faire system. Privatizing profits and socializing losses is not laissez-faire.

That isn't to say laissez-faire is without faults, or that we should strive for a completely laissez-faire system, but combining the worst aspects of both a free market and socialization delivers sub-optimal results. Just look at the cost of our healthcare system. In that regard, I'd rather have a completely socialized system than what we've got. People going to the ER with the sniffles with no intention of paying the bill is a misuse of an important health service, and that's incentivized by our insane hybrid system of corruption.
Historically,the free market is credited only with advantage for agriculture and retailing.In all other categories,public enterprise is more efficient.
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