ST Alpha - "You know me. I'm a major free market proponent, especially among progressives." (Reading a Post)

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In response to "Fuck the city council!! This is why I live just outside the city limits. They can't stick that kooky legislation out here. -- nm" by Bacon

You know me. I'm a major free market proponent, especially among progressives.

Posted by ReluctantCynic (aka ReluctantCynic) Dec 5 '16, 19:32

But even Adam Smith said free markets must be restrained in light of human greed. Completely unregulated free markets are a fundamental denial of human dignity and basic liberty.

Or, put another way, this is exactly the place where the law is entitled to step in. The law is the the least common denominator of human decency. When a few people don't do the right thing for society, then society is entitled to restrain them with laws.

If American did extraordinarily well in the 1950s and 1960s when the ratio of CEO pay to median pay was 20 to 1, and if America boomed during the mid-1990s (the only time in recent history when we eliminated the national deficit and actually lowered the national debt) when the ratio of CEO pay to median pay was 90 to 1, then America can do just fine with a 100 to 1 ratio.

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Well, the rest of America will do fine taking bits and pieces of these companies. -- nm - Will Hunting Dec 5, 19:39 1
- Probably. But eventually, maybe we'll have a national law along the same lines. - ReluctantCynic Dec 5, 19:50 1

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You know me. I'm a major free market proponent, especially among progressives.

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