14th August 2010, 11:12 PM
(This post was last modified: 15th August 2010, 12:25 AM by Unreadphilosophy.)
" to each question. It seems clear they put the "correct" answer last in every case. In the case of employee discrimination, yes certain laws need to be in place to help this issue. No, the free market is not going to "punish" infringers,"
Not true. No business in today's day and age will survive for an hour if the people that the market caters to learn that the business in question is discriminating against a certain ethnicity. It would be torn to pieces. If you don't believe that, then you have not been paying attention to the fragile feelings that people have toward race for the past God knows how many years.
The market is capable of fixing what it needs to fix.
" The general flaw with that whole thing to me is they seem to think that a free market wouldn't ALLOW bad things to happen, that all high level executives making decisions always make enlightened ones that consider consequences to them in the long run, that no one ever rips anyone off, and heck, that no one CAN be ripped off as though everyone always has perfect knowledge of every transaction."
Again, that's not true. Where are you getting your information from? Advice: read Mises.
We know that bad things happen in a market. Issues happen all the time. What we understand is that those that make mistakes must face the consequences of their actions. No business is too big to fail. If you make a mistake, then you have to pay. Payment is having your good assets moved to a company or group of companies that have proven their worth, and watching as your bad assets go down the drain. Simple as that, my friend. No zombie banks. No bailouts. No inflation. FYI: Some banks were allowed to suffer to the market during the 08 mess. Those banks disappeared and had the "good stuff' moved to establishments that could handle themselves.
And, yeah, people are ripped-off. Your point being what? A "rip-off" isn't the fault of the company alone; the consumer has a hand in it as well. Consumers need to pay attention. They have options, and they need to take all of them into account. That's why we have competition.
"Ayn Rand was a moron."
Eh...no. Rand was on the right track with a lot of things. The problem is that she didn't get her ideas on capitalism correct all them time. She certainly wasn't an economist. That's why people like Mises and Rothbard had the brains to tell us how the market operates.
Read this if you have the time:
http://www.amazon.com/PLANNING-FREEDOM-M...636&sr=8-1
Not true. No business in today's day and age will survive for an hour if the people that the market caters to learn that the business in question is discriminating against a certain ethnicity. It would be torn to pieces. If you don't believe that, then you have not been paying attention to the fragile feelings that people have toward race for the past God knows how many years.
The market is capable of fixing what it needs to fix.
" The general flaw with that whole thing to me is they seem to think that a free market wouldn't ALLOW bad things to happen, that all high level executives making decisions always make enlightened ones that consider consequences to them in the long run, that no one ever rips anyone off, and heck, that no one CAN be ripped off as though everyone always has perfect knowledge of every transaction."
Again, that's not true. Where are you getting your information from? Advice: read Mises.
We know that bad things happen in a market. Issues happen all the time. What we understand is that those that make mistakes must face the consequences of their actions. No business is too big to fail. If you make a mistake, then you have to pay. Payment is having your good assets moved to a company or group of companies that have proven their worth, and watching as your bad assets go down the drain. Simple as that, my friend. No zombie banks. No bailouts. No inflation. FYI: Some banks were allowed to suffer to the market during the 08 mess. Those banks disappeared and had the "good stuff' moved to establishments that could handle themselves.
And, yeah, people are ripped-off. Your point being what? A "rip-off" isn't the fault of the company alone; the consumer has a hand in it as well. Consumers need to pay attention. They have options, and they need to take all of them into account. That's why we have competition.
"Ayn Rand was a moron."
Eh...no. Rand was on the right track with a lot of things. The problem is that she didn't get her ideas on capitalism correct all them time. She certainly wasn't an economist. That's why people like Mises and Rothbard had the brains to tell us how the market operates.
Read this if you have the time:
http://www.amazon.com/PLANNING-FREEDOM-M...636&sr=8-1