Linked by Dmitrij D. Czarkoff on Fri 31st Aug 2007 08:54 UTC
Editorial This article is an answer to "Competition Is Not Good" by Kroc and reading it wouldn't be comfortable without switching to and from the original article. I wrote it just because I do strongly disagree with Kroc and I believe I can prove that he is not as close to truth as it may seem from the first glance.
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RE: I agree
by SReilly on Fri 31st Aug 2007 11:06 UTC in reply to "I agree"
SReilly
Member since:
2006-12-28

Agreed. What you are saying is very much what I have been hearing from economists for years now. Government regulation of markets and businesses is a must for a healthy economy.

Often, I hear the free market and free market economics hailed as the bastion of freedom when, time and again, a truly free market has been proven to limit customer choice. One good example of this is that without intervention, we would have more monopolies.

In fact, the deregulation of markets has often proven to be detrimental to the market itself. Take WorldCom and Enron as two prominent examples. Also, most of the worst stock market hiccups and crashes have been the direct result of nonregulation/deregulation.

Competition is, IMO, healthy but true competition is only possible when all parties are made to play fair.

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