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.
Permalink for comment 267418
To read all comments associated with this story, please click here.
Member since:

IMO, it's naive to think that you can set up a system as simple as dylansmrjones suggests, without a referee, and have it work.

There are simply too many pathological conditions that the system can get into that require intervention to resolve in a reasonable amount of time. The simplest case being that of a monopoly. Completely free markets encourage that particular pathological condition. The motivations, and actions, of the monopolists *eventually* do bring them down. But do we really want the system to be in failure mode for the majority of the time?

We tried Laissez-faire here in the US. "We, the People" were rewarded with sweatshops, cheap child labor, and an ultra-rich super-class to read about in the newspapers.

Edited 2007-08-31 16:40

Reply Parent Score: 2