Market economies work when there are:
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Market economies work when there are:
- Antitrust enforcement
- Environmental and occupational health regulations
- Unions
- Public health and unemployment insurance
- Consumer protections
- Public research funding
- Public infrastructure funding
- A robust democracy -
Market economies work when there are:
- Antitrust enforcement
- Environmental and occupational health regulations
- Unions
- Public health and unemployment insurance
- Consumer protections
- Public research funding
- Public infrastructure funding
- A robust democracy@evan Our market economy is mainly working for the ulta rich and, as the old saying goes, the rich are getting richer. Their dominance makes it difficult to have all those nice things you listed. As long as we have this gross inequality, I am not sure we can recover.
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@evan Our market economy is mainly working for the ulta rich and, as the old saying goes, the rich are getting richer. Their dominance makes it difficult to have all those nice things you listed. As long as we have this gross inequality, I am not sure we can recover.
@tmstreet the inequality is due to a failed market!
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@tmstreet the inequality is due to a failed market!
@evan @tmstreet Some sources of wealth inequality reflect market failures; others do not. Have you read about the Wilt Chamberlain Argument? https://www.britannica.com/biography/Robert-Nozick/The-entitlement-theory-of-justice#ref828038
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@evan @tmstreet Some sources of wealth inequality reflect market failures; others do not. Have you read about the Wilt Chamberlain Argument? https://www.britannica.com/biography/Robert-Nozick/The-entitlement-theory-of-justice#ref828038
@mpjgregoire @tmstreet I don't understand how it applies.
Concentrations of wealth happen when markets are broken. I'd say, they're almost the definition of when markets are broken.
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Market economies work when there are:
- Antitrust enforcement
- Environmental and occupational health regulations
- Unions
- Public health and unemployment insurance
- Consumer protections
- Public research funding
- Public infrastructure funding
- A robust democracy@evan you need to determine "work". Market economies work for the rich by default. All these provisions you mention are interventions in market economies to make them work (partially) also for working people. I support any of these interventions but still think it is a better idea to move from market economies to economies based on commons, or as it often described a Social Solidarity Economy https://en.wikipedia.org/wiki/Solidarity_economy#Social_economy_businesses?wprov=sfla1
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@mpjgregoire @tmstreet I don't understand how it applies.
Concentrations of wealth happen when markets are broken. I'd say, they're almost the definition of when markets are broken.
@evan
Is there something broken in the market in Nozick's argument? Is there something unfair about Mr. Chamberlain earning money for his exceptional skills? -
@mpjgregoire @tmstreet so, I don't want to argue about this imaginary scenario.
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@evan you need to determine "work". Market economies work for the rich by default. All these provisions you mention are interventions in market economies to make them work (partially) also for working people. I support any of these interventions but still think it is a better idea to move from market economies to economies based on commons, or as it often described a Social Solidarity Economy https://en.wikipedia.org/wiki/Solidarity_economy#Social_economy_businesses?wprov=sfla1
"All these provisions you mention are interventions in market economies to make them work (partially) also for working people."
Yes, that was the point of the list. Unfair markets also don't work for most business owners, by the way.
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