Most ET conservatives in worlds Top 1% . ET lefties... not so much

Discussion in 'Politics' started by TJustice, Nov 1, 2018.

  1. TJustice

    TJustice

    wow... you are acting like a simpleton.

    Look at the definition I gave you ... (the first return in google)
    do you see the words "unrestricted competition"
    That is where the debate turns. What is unrestricted competition?

    The "free market" is a construct of thought.
    You don't take the words literally and just put them together.

    Food is not free at the "free market".





    Dictionary

    free mar·ket
    /ˈˌfrē ˈmärkət/
    noun
    1. an economic system in which prices are determined by unrestricted competition between privately owned businesses.

     
    #41     Nov 2, 2018
  2. Please stop with the farting unicorns. How do you prevent monopolies and blatant price collusion without government intervention? How can you call a market truly free if the safeguard is in place by virtue of government intervention?

    Please stop trying so hard to be daft. You're a natural.

    But on to other business: How do you define unrestricted competition?
     
    #42     Nov 2, 2018
    Slartibartfast likes this.
  3. [​IMG]

    Speaking of magical stuff, I have Christmas present to order.
     
    #43     Nov 2, 2018
    Frederick Foresight likes this.
  4. TJustice

    TJustice

    Wow... you are being dense.
    I was not even arguing with you. I told you it depends on your definition of the idea of "free market".


    Lets take it up a notch...

    https://www.britannica.com/topic/free-market

    Free market
    ECONOMICS
    WRITTEN BY:
    See Article History
    Free market, an unregulated system of economic exchange, in which taxes, quality controls, quotas, tariffs, and other forms of centralized economic interventions by government either do not exist or are minimal. As the free market represents a benchmark that does not actually exist, modern societies can only approach or approximate this ideal of efficient resource allocation and can be described along a spectrum ranging from low to high amounts of regulation.

    [​IMG]
    free-market economics: Smith, Adam; Hayek, F.A.Learn about free-market economics, as advocated in the 18th century by Adam Smith (with his “invisible hand” metaphor) and in the 20th century by F.A. Hayek.© Open University
    Many economists consider resource allocation in a free market to be Pareto-efficient, where no one can be made better off without making other individuals worse off, given certain conditions (like the absence of externalities or informational asymmetries, among others). Moreover, according to this theory, through the invisible-hand mechanism of self-regulating behaviour, society benefits by having self-interested actors make free economic decisions that benefit them. Some ethicists have argued that the efficiency of free markets depends on several moral parameters as scope conditions, such as fair play, prudence, self-restraint, competition among equal parties, and cooperation.

    Critics of the free market system tend to argue that certain market failures require government intervention. First, prices may not fully reflect the costs or benefits of certain goods or services, especially costs to the environment. Public goods are often underinvested or exploited to the detriment of others or future generations, unless such exploitation is prohibited through government regulation. Second, a free market may tempt competitors to collude, which makes antitrust legislation necessary. Antitrust and similar regulations are especially necessary in cases where certain market actors, such as companies, have acquired enormous market power. Third, transaction costsmay mean that some exchanges are best performed in a hierarchy rather than spot markets. Most importantly, Pareto-optimal resource allocation in a free market may violate principles of distributive justice and fairness and may thus necessitate some government action.

    In response to these critiques, economists Ronald Coase, Milton Friedman, Ludwig von Mises, and Friedrich A. Hayek, among others, have argued for the robustness of markets because they can adjust to or internalize supposed market failures in many situations. For instance, many goods traditionally conceptualized as public goods requiring government provision have been shown to be open to free market contracting. Libertarians are strong defenders of the idea that a system of free markets provides the best economic system.



     
    #44     Nov 2, 2018
  5. As for the rest of your post, Keynes was the greatest economist who ever walked this earth. Your collection of experts are mere cardboard cutouts by comparison.

    And, no, I do not have the appetite to debate a rock. At least not any further. However, I'm open to the occasional drive-by, so please be sure to continue.
     
    Last edited: Nov 2, 2018
    #45     Nov 2, 2018
    Slartibartfast likes this.
  6. Buy1Sell2

    Buy1Sell2

    I recommend thread closure at this juncture as the discussion is far afield from thread title.
     
    Last edited: Nov 2, 2018
    #46     Nov 2, 2018
  7. ElCubano

    ElCubano

     
    #47     Nov 2, 2018
    Frederick Foresight likes this.
  8. Yeah, I'm embarrassed for him, too.
     
    #48     Nov 2, 2018
    Slartibartfast likes this.
  9. Buy1Sell2

    Buy1Sell2

    The embarrassment is yours and your ilk.
     
    #49     Nov 2, 2018
  10. For attempting to dialogue with a rock? Good point.
     
    #50     Nov 2, 2018
    Slartibartfast likes this.