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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sbergman27
Member since:
2005-07-24

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

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