No, you don't. That's not an opinion, it's a mathematical fact. Free market economies can get stuck in sub-optimal equilibria, and child labor can produce a stable, suboptimal equilibrium for an economy to get stuck in.schmelzer said:You need market distortions, and a lot of them, to prevent economy from raising
And this has been observed.
1) I have posted no rants. 2) The example, like the motel room denial, illustrates the kind of "freedom of contract" you consider harmless. Hence the need for laws, to provide at least some basic protection for people from the consequences of the contracts that racial bigots will make with each other if free to do so.schmelzer said:Why, then, your rants against a harmless baseball league restricted to white players only?
Yes, it was. Here is is again: "The libertarian thinks completely different. He acknowledges that people are different, that there will be conflicts between them, some will hate others, and the best way to preserve peace is to separate those who hate each other, giving them the possibility to live their lives without those of the hated groups. " That's you, direct quote.schmelzer said:Its not my quote, liar!
The black people denied motel rooms and good jobs and their preferred choice of housing and access to hospital care and decent educations and so forth, did not freely agree to the terms white bigots agreed to in their happy freedom of contract.schmelzer said:You know very well that there is a great difference between giving people the freedom to segregate, by their own decision, and forcing them to segregate, as implied by "should be segregated".
They were, instead, segregated whether they wanted to be or not.
That's not quite what you asserted.schmelzer said:"That hasn't been true in real life. Look around."
I look around, and it has been true. In all cases where direct comparison between highly regularized economies and free market based ones are possible the free market economies are more successful.
Here's what I said wasn't true in real life: " in a free market, technical progress will be applied faster than in a heavily regulated or socialist economy."
Part of the reason it isn't true is that the distinction between "heavily regulated" or "socialist" and "free market based" is hopelessly muddled: most of the heavily regulated and significantly socialistic economies in the modern world are free market based. But the major reason is that the more socialized economies, including the socialized aspects of "free market based" economies considered separately, have been generally much faster at "applying technical progress" than the free market ones. The US military, for example. The socialized medical care and public transportation setups of Europe.
Living and learning about the Godfathers and Madoffs of this world.schmelzer said:This group, then, has all the advantages which today are available only to small groups which are based on repuation. But this group is open, everybody can participate and obtain reputation for holding promises and contracts, with the rule "one strike and you are out". Thus, it is predictable that this group will grow and, after a short time, cover many important people. Simple economics - people will prefer to make contracts where they can be sure that the other side does not cheat, the reputational system will increase this probability, thus, they will use it.
Until it runs out of money from not being able to levy taxes. Then whoever has taken over the reputational system, adjudicated the disagreements, enforced the terms, and shepherded the vast majority of people who haven't the time, education, or computer skills to handle all the privacy stuff and contractual language etc, will be your new government.schmelzer said:In this scenario, how long will the state survive?
Kind of a digital version of Sicily after the Cosa Nostra got its grip.
Last edited: