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1. Free Trade
2. Free Markets (no government intervention or regulation)
3. Contracts are not supported by Law (leads to violence)
4. No force of coercion by anyone (people enter into all contracts at their own free will)
5. Voluntary Exchange (see 4)
6. No Taxes on both businesses (no income tax) and consumers (no sales tax)
7. Legislation and illegality imposes high physical cost but not high operational cost
8. No laws on monopolies
9. No high barriers to entry (low start-up cost)
10. High profit margin
11. Extremely efficient at distributing scare resources
12. No Unions or Labor Laws
13. No consistency regulations or standard of quality
Just some thoughts on why illegal drugs should be legalized and taxed. Also some thoughts on why this is the only true capitalist market we have in America (minus the ability to enforce contracts legally-which in my opinion is the biggest problem and leads to violence).
If anyone wants a clear picture of what America looked like before the 1900's and all the Federal Regulations and Intervention by government this would be the market to watch (although i wouldn't advise you to literally watch it as you could die, but you probably get the gist of the thread).
Could capitalism work more efficiently without the government involvement???
Could capitalism work more efficiently without the government involvement???
What arguments would you make
The only "argument" that I would make would come more as an observation, capitalism isn't more efficient without government involvement because of the tendency of unregulated capitalism because as Smith pointed out,
To widen the market and to narrow the competition is always the interest of the dealers ... The proposal of any new law or regulation of commerce which comes from this order, ought always to be listened to with great precaution, and ought never to be adopted, till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men, whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it.
1. Free Trade
2. Free Markets (no government intervention or regulation)
3. Contracts are not supported by Law (leads to violence)
4. No force of coercion by anyone (people enter into all contracts at their own free will)
5. Voluntary Exchange (see 4)
6. No Taxes on both businesses (no income tax) and consumers (no sales tax)
7. Legislation and illegality imposes high physical cost but not high operational cost
8. No laws on monopolies
9. No high barriers to entry (low start-up cost)
10. High profit margin
11. Extremely efficient at distributing scare resources
12. No Unions or Labor Laws
13. No consistency regulations or standard of quality
Just some thoughts on why illegal drugs should be legalized and taxed. Also some thoughts on why this is the only true capitalist market we have in America (minus the ability to enforce contracts legally-which in my opinion is the biggest problem and leads to violence).
If anyone wants a clear picture of what America looked like before the 1900's and all the Federal Regulations and Intervention by government this would be the market to watch (although i wouldn't advise you to literally watch it as you could die, but you probably get the gist of the thread).
Could capitalism work more efficiently without the government involvement???
What arguments would you make
The only thing I have to say is that the government has to many regulations and laws for businesses. They only exist to make the government more money, with all its licenses, taxes, permits, contracts, regulations, and such, it is almost impossible to start a small business these days.
the government supports big business and ignores small business.
Want a great example of this, watch the movie Beer wars, it will open your eyes to the monopoly the government has over the business world.
The only "argument" that I would make would come more as an observation, capitalism isn't more efficient without government involvement because of the tendency of unregulated capitalism because as Smith pointed out,
To widen the market and to narrow the competition is always the interest of the dealers ... The proposal of any new law or regulation of commerce which comes from this order, ought always to be listened to with great precaution, and ought never to be adopted, till after having been long and carefully examined, not only with the most scrupulous, but with the most suspicious attention. It comes from an order of men, whose interest is never exactly the same with that of the public, who have generally an interest to deceive and even to oppress the public, and who accordingly have, upon many occasions, both deceived and oppressed it.
The Wealth of Nations, Book I Chapter XI
Great quote i was just throwing it out there as the illegal black market for drugs is the only market i could think of in the United States, that is truly a laissez faire market.
I never understood why republicans ever were for the criminalization of drugs. Turns out, it seems, that their "conservative smaller government" platform is a complete lie.
Adam Smith's principles already apply in the drug trade, through the black market.
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