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Old 05-11-2010, 01:13 PM
 
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What is the general position of free market proponents on regulations? Does the issue of regulations vary with different free market advocates? Do all free marketers agree on what should and shouldn't be regulated?
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Old 05-11-2010, 01:21 PM
 
Location: Dallas, TX
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One can't be a free marketeer and support any regulation. However, one can be a capitalist and support regulations. Which, in turn, implies that free market and capitalism aren't necessarily one and the same contrary to how free marketeers like to market capitalism.
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Old 05-11-2010, 01:26 PM
 
Location: Sango, TN
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Free market includes things like, no tariffs, no taxes, no regulation of imports or exports.

I see a lot of so called "free market" supporters who HATE NAFTA, but thats part of a free market system.

Most people lie in the middle.

The line I've heard that best describes my views, compares the economy to traffic.

We have a one lane road. Its the governments job to determine how big the road is, by putting up curbs, to keep you in the right lane. Also, they must make sure that traffic doesn't stop on the road, and that it doesn't go in the wrong direction. Speed limits can also be a good thing, to keep traffic moving correctly. To fast, you crash, to slow, you crash.

Other than that, let the economy go where it will.
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Old 05-11-2010, 01:49 PM
 
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The free market needs something in order to account for negative externalities. Even Milton Friedman, free market ideologue, believed as much despite what any internet free market hero may say to the contrary.
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Old 05-11-2010, 02:01 PM
 
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Quote:
Originally Posted by EinsteinsGhost View Post
One can't be a free marketeer and support any regulation. However, one can be a capitalist and support regulations.
I guess I fall more into the capitalist category. I don't have a problem with regulations that are well thought out and are aimed at preventing shady business practices and combating consumer and worker abuses.
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Old 05-11-2010, 03:17 PM
 
Location: State of Superior
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The problem with Regulations is, over time , Big Business capitalist find a way around them. Laws,rules , eventually wind up favoring the few ( big lobby). This makes for a bad imbalance all the way around. I believe in open entry in business , but we DO need regulation to make a level playing field.
The trends will change, we go through a period of deregulation ( since Regan)...then, after Big Corporate screws up the world , the pendulum starts to swing the other way.....for a while....More, renued regulation is on the way back, big time . Big business has let greed,power and untold profits go without restraints and with total disregard for the Planet. They are shooting themselves in the foot, and they know it. The decision was made to make it now , while we still can, just like the before income tax days so long ago. The winds of change are more than just political talk and opinion, they are a cry for survival. The pitch fork crowd can and will turn on you like a dime, the people have had enough of run a way profit and greed , at the expense of the People and the enviorment....Welcome to the new world...we are in for a rough ride for a few years I am afraid.
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Old 05-11-2010, 03:25 PM
 
Location: Dallas, TX
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Quote:
Originally Posted by darstar View Post
The problem with Regulations is, over time , Big Business capitalist find a way around them.
In project management, the best practices don't stop with closure of the project, but focus on continuous monitoring and improvements. This applies to any regulation as well. You can't design something and let it run forever. You adapt and continue to work diligently to improve the efficiencies and effectiveness, serving the purpose it started with.

Now, the government has its weaknesses, that it can be (and has been, throughout the history, since the inception) bought out by businesses and policies either mutilated or demolished to serve corporate interest. It was, however, intended that the people take charge of keeping it in check instead of blaming the government.
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Old 05-11-2010, 03:33 PM
 
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This is about as sticky a subject as you can find.

We will never have a real "free market" but we had better find a way to have the kind of regulation that creates a level playing field.

this last economic crash is a classic case of both bad deregulation (Graham amendment) and bad regulation (CRA)

You can do stupid things like allow the lines between banking and investment houses to get blurred and then not require banks to hold cash reserves.... etc..

then you can compound the stupidity by forcing banks via regulation to lend money to people who cannot afford to pay it back...

yea that really happened.

There is a lot of talk right now about the need for regulation. But there is no serious talk about the fact that as bad as deregulation can potentially be, bad regulation can be as bad or worse.

Ask FedEx. In the last year, at the urging of some unions and UPC, congress slipped an amendment into a bill that made it very easy for FedEx employees to unionize.

Now FedEx will have to deal with new expenses related to this that they didn’t have a year ago. The government had no business getting into their business like that. It is very bad regulation.

We need to fix problems. Create law that punishes law breakers in business, busts up monopolies and any company that is too big to fail, may be too big to exist. But what we don’t need is a government bent on regulating to the point that they make the business climate toxic.
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Old 05-11-2010, 03:36 PM
 
Location: Dallas, TX
31,777 posts, read 24,916,390 times
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Quote:
Originally Posted by Ferd View Post
this last economic crash is a classic case of both bad deregulation (Graham amendment) and bad regulation (CRA)
Do you think CRA would have been equally bad regulation if not for the Gramm-Leach-Bliley act of 1999 (I assume you implied that with "Graham amendment) which repealed Glass-Steagall act of 1933?
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Old 05-11-2010, 03:51 PM
 
Location: State of Superior
8,628 posts, read 13,901,618 times
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Quote:
Originally Posted by EinsteinsGhost View Post
In project management, the best practices don't stop with closure of the project, but focus on continuous monitoring and improvements. This applies to any regulation as well. You can't design something and let it run forever. You adapt and continue to work diligently to improve the efficiencies and effectiveness, serving the purpose it started with.

Now, the government has its weaknesses, that it can be (and has been, throughout the history, since the inception) bought out by businesses and policies either mutilated or demolished to serve corporate interest. It was, however, intended that the people take charge of keeping it in check instead of blaming the government.
The problem is our system of governing comes at a high cost. The Government is controlled by the lobby machine , by campaign contributions designed to purchase the Representatives we the people thought we elected to represent us . This is where the real level playing field does not exist. Today there is no such thing as a responsible Corporate giant, only a greed machine run muck. The Peter Principal is alive and running full steam ahead also.... Breaking up the corporate monopolies policies has come again...its time to put a stop to the seven league boots once again...call it Socialism or call it something in between ,whatever , ether way its not only needed , its the right thing to do...for the people.
We need to walk a wire, where Government not becomes so big that it consumes its self in the process of regulating business on behalf of the People...that maybe as hard to control as the regulations themselves......could be its about time to downsize everything...and start over.
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