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View Diary: Book review: Michael Lind's 'Land of Promise' (94 comments)

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  •  Which a pure free-market economist would see as (14+ / 0-)

    ...a good thing, I suppose.

    The deregulation of the airline industry also left untold communities cut off as airline companies no longer had to service the routes that had been mandated in the past.
    The essence of an unfettered free market is that it is left to its own devices to find the optimal solution to the "problem".

    The "problem", of course, being maximization of profits.

    As a society, we deserve better.

    "Ridicule is the only weapon which can be used against unintelligible propositions." - Thomas Jefferson

    by rfall on Sun Apr 21, 2013 at 01:48:49 PM PDT

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    •  Pure free markets often end in abusive monopolies, (1+ / 0-)
      Recommended by:
      Calamity Jean

      boom and bust cycles, and other distortions. Without government regulation, the "free market" usually does itself in within fairly short order.  

      Glass-Steagall repealed 1999.
      Global economic collapse 2008-9.
      Who could have foreseen....?

      "The law is meant to be my servant and not my master, still less my torturer and my murderer." -- James Baldwin. July 11, 1966.

      by YucatanMan on Sun Apr 21, 2013 at 06:42:35 PM PDT

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