the markets may be the perfect way to determine the equilibrium price of stuff...

WCGreen

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Mon Jul-25-11 06:33 AM
Original message

the markets may be the perfect way to determine the equilibrium price of stuff...

On Paper, in an econ textbook...

But then the people irrationally governed by greed get in the way then the whole idea of a rational market goes bye bye...

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Selatius

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Mon Jul-25-11 06:37 AM
Response to Original message

1. Markets only work in a regulated framework.

They don't work when a few entities are allowed to gain dominance over the rest of the market, and they don't work if the regulatory agencies that police the markets are controlled by entities that are supposed to be policed. Anti-trust laws and other laws exist on the books, but they aren't worth the paper they're printed on if no one is willing to enforce them.

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WCGreen

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Mon Jul-25-11 06:41 AM
Response to Reply #1

2. That is totally true...

Trust, but verify.

Wasn't that Ronald Reagen's motto?

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