For those that supposedly champion capitalism, this should be a win win in demonstrating what the market does when you are no longer competitive.
Yes, absolutely. Unfortunately it’s quite traditional only to tolerate markets as long as we’re happy with their behavior. The moment a market starts worrying or upsetting us is never “oh man, maybe this ‘markets’ thing isn’t all it’s cracked up to be”, it’s “obviously some regulation or policy is ruining this market, or it would never do this thing i don’t like”.
So we’re stuck with the lose-lose-lose of:
keeping markets, their volatility, and all the shit that comes with that
giving up the fringe benefit of markets redistributing wealth when they collapse
denying anyone a chance to see clearly what it means to trust markets to manage our economy for us.
Yes, absolutely. Unfortunately it’s quite traditional only to tolerate markets as long as we’re happy with their behavior. The moment a market starts worrying or upsetting us is never “oh man, maybe this ‘markets’ thing isn’t all it’s cracked up to be”, it’s “obviously some regulation or policy is ruining this market, or it would never do this thing i don’t like”.
So we’re stuck with the lose-lose-lose of:
keeping markets, their volatility, and all the shit that comes with that
giving up the fringe benefit of markets redistributing wealth when they collapse
denying anyone a chance to see clearly what it means to trust markets to manage our economy for us.