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In reply to this comment by siaiaiaaaaaa:
Enzoblue


'Self Regulation' is exactly what the Bush administration, and here in Britain, did. They said 'the free market knows best, knows more than us. Let them get on with it'.

And they deregulated everything. And look what happened.

All you people ever seem to understand is black and white. The fact is for most things in life to work, especially in economics, there's always a compromise that needs to be found.
You americans have all been brainwashed by the red army propaganda from way back when, and anything remotely to do with government you cry of communism. How absurd.

Deregulation played a major part in the financial meltdown. As westy says, business fundementally is about exploiting people. If you make a profit on something, you are exploiting. If you were to leave Healthcare to the private world, their fundamental concern is to maximise shareholder wealth - not to maximise the nations health.

You can go on deluding yourselves about glorious capitalism - history and evidence has shown.........it doesn't work. You need a bit of both. You need free markets to keep prices down and generate competition, but you also need governments to not let companies get too huge, create barriers to entry into markets (which is the current situation, thus suppressing competition) and have taxes which benefit people who aren't rich (i.e. 99% of the world population.....)
I advise you to read some books on this myth of 'free market is best'.
The cost of capitalism: robert j barbera
The myth of the rational market: justin fox
House of cards: william d cohan

The last one especially talks about the greed of wall street you hear so much about, but don't seem to acknowledge. When youve got money as a motivating factor, all ethical concerns and welfare of others go straight out the window. If you want your perfect free market - that is the exact mentality that will take place - which would be fine if everyone was starting off on an even plate, with the same amount of assets - but they're not. The inequality between poor/average/rich is so huge it would never be fair to begin with.

The problem of course now is politicians see their positions as careers, rather than civil servants. But with a good government, with good people, if that will ever happen, proper regulation and control of the markets has to take place to ensure the equality gap doesn't become even more wide than it is at the moment. Oil company profits anyone?


good answer.
that would have taken me..oh....a small novella to get my idea across.
well said brother.

What's crackin?