03-18-2010, 04:33 PM
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Confirmed User
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Join Date: Apr 2003
Posts: 7,336
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Originally Posted by u-Bob
That had nothing to do with the free market but with government interference.
The invisible hand doesn't need regulation (gov interference). A true free market regulates itself. And there's no such thing as "a bit of regulation". To put it in the words of Ludwig von Mises; "there is no third option". There's the market or government.
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Finally, another fan of the Austrian School.
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and where are you gonna find those angels to watch over us? Yes, mortal men do make mistakes, we all do... and some of us learn from them, some learn from them after a long time and some of us never learn... Uncertainty and entrepreneurial error are part of the economy and at times cause small recessions, but the (free) market always corrects itself. The real danger is caused by mortal men (who make mistakes) who think they can regulate a very complex system and by trying to do so cause more problems. Just compare the depression of 1920-21 to the depression of 1929-...
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I wish these mainstream keynesian morons understood that the more government interference in the markets, the more fuckups. The market should be 100% free of political influence.
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We are all human beings, we are all born, we are all masters/owners of our own body, we live in a world of scarcity (there's a limited supply of resources) and we all have different goals/wants. The only thing we get for free every day until we die, is time. In a free market world, people are free to use their body and their property (the fruits of their own labour) as they see fit. They are free to do what they deem necessary to accomplish their goals as long as they respect other people's right to do the same: So people can do whatever they want as long as they don't cause damage to other people's body or property. So people have the right to free speech (= the right to use their own ink and paper as they see fit = the right to use their own property). They have the right to sleep all day long they if the want, they have the right to work all day if they want. They have the right to start a bakery if the want and they have the right to sell their products (bread in the case of the baker), but they don't have the right to a guaranteed income. If your bread tastes like sh*t, nobody will buy it. If you don't change your recipe or increase the quality of your bread, you will go out of business even if "making a living as a baker" is what you really wanted to do in life. In a free market you have the right to try to accomplish your dreams, but you don't have a right to get whatever you want for free. You have the right to work hard and try to save a lot of money and buy an Aston Martin, but you don't have the right to wish for an Aston Martin and have it magically appear just because you wanted one. In a free market, the products people produce or services people offer will always benefit society, because if people produced products nobody wanted, nobody would buy them and there would be no reason to produce them in the first place. So just because you work hard doesn't mean you have to be rewarded. However you will be rewarded (paid) if you produce (and sell) something that benefits society (something other people need or want). (If you get up in the morning and start digging a hole in your backyard and at the end of the day you end up with a giant hole in the ground, that means you worked really hard that day. But should you get paid for that? Of course not. Now if you worked hard producing something people wanted to buy, then you'd get rewarded).
So if people have a right to their own body and a right to their own property, then there can't be a thing like "free health care" or "health care as a basic right" because pills and bandages and syringes and hospital beds etc don't magically appear when we wish for them. Some one has to make/build/produce those items and why would somebody do that for free, if he can use his time to do something else? How is the government supposed to pay for those items? The government doesn't have any money... unless they take it from people (and commit an act of aggression by doing so).
I think you are confusing 2 things here. Labour has always been considered a factor of production so the law of supply and demand applies here.
If you refer to the fact that a lot of companies treat their employees without respect, then yes, I agree, that's repugnant and in a free market system, you have the possibility to boycott those companies and you have the right to quit your job if boss treats you like sh*t. Those are you options, anything that goes beyond that would be unethical.
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Ok well it's safe to say you have the best grasp of economics on this forum.
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Greed is Good 
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