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View Poll Results: Free markets typically secure more economic prosperity than government’s centralized
the price system utilizes more local knowledge of means and ends 18 60.00%
markets rely upon coercion, whereas government relies upon voluntary compliance with the law 2 6.67%
more tax revenue can be generated from free enterprise 6 20.00%
property rights and contracts are best enforced by the market system 4 13.33%
government planners are too cautious in spending taxpayers’ money 0 0%
Voters: 30. You may not vote on this poll

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Old Nov 23rd, 2008, 09:14 PM   #1
TGregg
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Join Date: Jan 2002
Location: USA
Posts: 7,494
Free markets typically secure more economic prosperity than government’s centralized planning because:

A. the price system utilizes more local knowledge of means and ends
B. markets rely upon coercion, whereas government relies upon voluntary compliance with the law
C. more tax revenue can be generated from free enterprise
D. property rights and contracts are best enforced by the market system
E. government planners are too cautious in spending taxpayers’ money
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Old Nov 23rd, 2008, 09:22 PM   #2
scriabinop23
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Join Date: Jun 2006
Location: San Diego
Posts: 4,050
Quote:
Quote from TGregg:

Free markets typically secure more economic prosperity than government’s centralized planning because:

A. the price system utilizes more local knowledge of means and ends
B. markets rely upon coercion, whereas government relies upon voluntary compliance with the law
C. more tax revenue can be generated from free enterprise
D. property rights and contracts are best enforced by the market system
E. government planners are too cautious in spending taxpayers’ money

Fun.. this is the politicians generally failed.
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Old Nov 23rd, 2008, 09:30 PM   #3
FGBS
 
 
Join Date: Apr 2004
Posts: 206
F. Humans will work harder for an influencable reward (profit) than they will under centralized remuneration.
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Old Nov 23rd, 2008, 09:35 PM   #4
lrm21
 
 
Join Date: Feb 2003
Posts: 583
Economic Calculation Problem

http://en.wikipedia.org/wiki/Economi...lation_problem

"without the information provided by market prices socialism lacks a method to rationally allocate resources"
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Old Nov 23rd, 2008, 10:01 PM   #5
Covertibility
 
 
Join Date: Aug 2003
Posts: 4,042
Ironic that the car companies in the socialist countries (Japan, Germany) don't need bailouts.

Real world is so far different than textbook academialand.

The Populist

"What does that say about the field of economics, which claims to be a science? It’s an enormous blot on the reputation of the profession. There are thousands of economists. Most of them teach. And most of them teach a theoretical framework that has been shown to be fundamentally useless."
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Old Nov 23rd, 2008, 10:09 PM   #6
scriabinop23
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Join Date: Jun 2006
Location: San Diego
Posts: 4,050
Quote:
Quote from Covertibility:

Ironic that the car companies in the socialist countries (Japan, Germany) don't need bailouts.

Real world is so far different than textbook academialand.

The Populist

"What does that say about the field of economics, which claims to be a science? It’s an enormous blot on the reputation of the profession. There are thousands of economists. Most of them teach. And most of them teach a theoretical framework that has been shown to be fundamentally useless."

In truth, your point about 'socialist' countries being somehow different from us is a flawed one.

The United States has never been a free market. The government and political agendas have always meddled with things to stablize things (which I actually think is good). The existence of central banking, regulation, doctrines, etc is all 'socialism' in the face of free market.

It leads to the original question posed actually being flawed. One could argue the economic growth many of the most developed markets have achieved is a function of central banking, political stability, trust in the system.

Free markets in their pure unregulated (central planned) form are unforgiving, brutal, and don't always lead to prosperity. Free markets are war and relatively anarchistic, primitive constructs. They are only good at one thing: price discovery.
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