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Originally posted by Southern Guardian
...by the least they are watched and held to scrutiny over their actions, as for the corporations that control and dictate alot of the markets, in an unregulated capitalistic system nobody can hold them accountable or simply "vote them out".
In an unregulated capitalist system the corporations dimishing opportunities and reserving their spot in the top by creating barriers cannot be held accountable.
In a recent letter to investors, he said mistakes were made in the bank’s mortgage business, but cited “regulatory lapses” and errors by the ratings agencies as triggers of the mortgage debacle.
Originally posted by Illusionsaregrander
I understand the profit=zero issue.
That, however, doesnt address the question, which is, if you are opposed to all use of force, except for force to ensure property rights and civil rights, how can the market ever really reach the "perfect competition" level?
How do you get to the place where perfect competition could exist by enforcing all the gains made by imperfect competition?
Originally posted by Ausar
i think most people who rely on a secret caste within capitalism would be ashamed at accepting an open caste system based capitalism; and your post borders along the lines of expressing the truth about castes created and maintained due to capitalism.
Originally posted by SeekerofTruth101
Govt's duty to protect their own industries and workers. If a shoe can be made and sold at $1 then why is the US incapable of doing so? It has the brains and the resources to do so, but why the need to instead import and sell at $2, by Wal Mart or anyone else?
Originally posted by downisreallyup
1) What is BEST for the individual in the short term is usually not BEST for the group in the long term. Maximizing local optimums usually cause a degradation in overall system performance.
2) Any degradation in overall group performance will have a negative impact on the individuals that make up that group.
Connect those two previous ideas logically and think about what it means.
It's like the example of a group of boy scouts walking on a path. If you put the fastest walker in front of the group, and the slowest walker in the back, which is the best case for the individuals, the group will suffer as it naturally spreads out. As time goes along, they will not be a group any more, and all the benefits of a group will be lost.
On the other hand, if you put the slowest walker in the front, which is not best for each individual, the group will stay together naturally. The group dynamics will be that the entire group will prodded along by the guy in the back to go as fast as they can, while still remaining a group over the long haul. Nobody, however, will be able to go faster than the slowest guy.