Re: [MLUG - DISCUSSION] why our economy is a mess

[Jack Smith <EMAIL:PROTECTED>]

On Mon, 2007-12-03 at 18:42 -0600, Mike Miller wrote:

> The government does not control greed (in the sense of preventing it), but 
> it does control regulations.  The Republican attitude is that government 
> regulation is bad and must be eliminated -- the free market can take care 
> of itself.

A totally free market will tend toward monopoly- this was elucidated in
the 1800s. There needs to be *some* regulation if monopolies are to be
avoided or breaking up ones that do develop and use their market
position to thwart competition. Note that a company that is merely large
is not a monopoly. The action of leverage to close the market to
competitors is. This is a VERY IMPORTANT difference as far as policy is
concerned.

> Greed is omnipresent and continually challenging.  We need regulations and 
> enforcement to prevent greedy powerful people from destroying us.

Greed is a personality trait. The government has ABSOLUTELY NO RIGHT to
try to change personality traits! If somebody wants to be greedy, fine.
Certain actions resulting from greed, such as theft and leveraging
monopoly power should be- and are- illegal. That is another important
distinction, one that is lost on many people, particularly the religious
right-wingers and the statist left-wingers. Objects, attitudes, or
predilections are not illegal and should not be. Doing illegal actions
should be- and are- illegal. 

--Jack


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