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Regulation & The Free Market

A sustainable free market has no regulation.

  • Agree, no regulation

    Votes: 2 5.7%

  • Disagree, requires regulation.

    Votes: 31 88.6%

  • Cheese.

    Votes: 0 0.0%

  • What? I wasn't ready for the picture!!!!

    Votes: 2 5.7%
  • Total voters
    35
obvious Child

obvious Child

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A sustainable free market has/requires no regulation.

Agree or disagree?

Considering the influx of new blood with the up coming election, I'm curious to see where we stand as a forum on this.

FYI: This poll is public. So we can see if some immature prick is spamming. Now, if we could only get the mods to release IP logs....
 
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I voted no, but I should qualify that. I believe that you can have a sustainable free market with no regulation, I just don't think that that would be best for the country. I think some regulation is necessary to prevent abuse of the system.
 
molten_dragon said:
I voted no, but I should qualify that. I believe that you can have a sustainable free market with no regulation, I just don't think that that would be best for the country. I think some regulation is necessary to prevent abuse of the system.
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Hmmm. You seem to be a bit conflicted. How can it be sustainable if people can abuse it? If people can abuse without consequence, why won't everyone abuse it? And if everyone abuses it, it is no longer a true free market no? So how can a sustainable free market exist without regulation?
 
I believe that without some mechanism to ensure that money flows back to the bottom from the top, (in addition to wages, because that is not enough), than the market will dwindle due to a lack of sufficient demand, harming everyone at all economic levels.

Second, humans are extremely good at pushing problems that they create off to society at large and need to be held to account to represent the true cost of doing business and curb abuse.

If both do not happen, then capitalism will not sustain itself and none of the moralizing in the world about who deserves what will make the system run.
 
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History shows the necessity for disallowing the free market to do whatever it chooses...the rest of humanity has to be considered... besides the few at the top that control all the strings. Megaprogman put it very well
 
Depends on what you mean by "regulation." A market economy requires a free and fair court system where individuals and organizations of all types and sizes are free to pursue their claims on legally even ground. But as long as that exists, government mandates are unnecessary and superfluous.

The problem with the current system is that we take the enforcement power out of the hands of the people actually harmed by unfair business practices and put it into the hands if bureaucrats who lack the resources actually to address the harm done to each individual and, more to the point, often quietly or deliberately refuse to pursue valid claims to advance a policy goal.

Take away the maze of regulations and return to a free and fair tort system, and fair business practices will naturally follow, as the bad businesses get swept under by a tide of lawsuits.

Sent from my AT100 using Tapatalk
 
The majority of the economic problems we're faced with today are the result of DE-regulation...
 
I think that even with the regulation we currently have that there is massive manipulation. The Plunge Protection Team is a blatant example and if the gov't can do it, the megaBusinesses are already doing it. The Big Short! etc.
 
citizenthom said:
Take away the maze of regulations and return to a free and fair tort system, and fair business practices will naturally follow, as the bad businesses get swept under by a tide of lawsuits.
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And then we'll be back to corporations evaluating the "cost" of recalling a car, as an example, against the cost of the litigation that'll result when the brakes fail. (It's still done today, even with all of our regulations. I agree with you that the "maze" has to go....but regulations themselves? Not a chance. If we didn't regulate food trucks, people'd be droppin' like flies in NYC.
 
Easy Rider said:
The majority of the economic problems we're faced with today are the result of DE-regulation...
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That's correct, the financial meltdown was a result of the deregulation of the financial sector. Without regulation capitalism becomes a cancer and will eventually eat itself alive.
 
A limited amount of proper regulation is necessary to sustain a free market.
 
I really think it should be: greater stability and prosperity as a result of regulation.

Not "a sustainable free market", because that's fiction. It can be regulated in the IDEAL way, and still not be sustainable...
 
Regulations aren't good for the economy because they don't allow market based solutions but instead force solutions on industry usually with no accord to affordable cost. They also don't involve people in the situation at hand but rule for them as if they have a problem with something going on when they may not. The goal should be to have as much freedom as possible while still giving people the power to make the companies practice safe practices. Regulations takes it all out of everyones hands, businesses and citizens while allowing the government to do whatever it pleases instead. This is why I support courts to empower people.



lpast said:
History shows the necessity for disallowing the free market to do whatever it chooses...the rest of humanity has to be considered... besides the few at the top that control all the strings.
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But you don't need regulation to do this. All you need is courts and the people.
 
Henrin said:
Regulations aren't good for the economy because they don't allow market based solutions but instead force solutions on industry usually with no accord to affordable cost. They also don't involve people in the situation at hand but rule for them as if they have a problem with something going on when they may not. The goal should be to have as much freedom as possible while still giving people the power to make the companies practice safe practices. Regulations takes it all out of everyones hands, businesses and citizens while allowing the government to do whatever it pleases instead. This is why I support courts to empower people.





But you don't need regulation to do this. All you need is courts and the people.
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Courts stop nothing and neither can the people...history again proves that.
 
suggested reading :

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Henrin said:
But you don't need regulation to do this. All you need is courts and the people.
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"Regulations" is just another word for Laws. If you eliminate Regulations, what grounds would you have to sue somebody? Oops...
 
Easy Rider said:
"Regulations" is just another word for Laws. If you eliminate Regulations, what grounds would you have to sue somebody? Oops...
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Regulations tell companies what to do and how that empower the government and no one else. What I suggest is nothing of the sort.

And what grounds do you have for regulations? The same here.

And what is up with the opps? Is lawsuits bad?
 
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Henrin said:
Regulations tell companies what to do and how that empower the government and no one else. What I suggest is nothing of the sort.

And what grounds do you have for regulations? The same here.

And what is up with the opps? Is lawsuits bad?
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In order to be able to sue someone in court, you must be able to prove they violated a particular Law (Regulation). If there is no Regulation to protect you from injury, you have no grounds to file suit. The manufacturer/service provider can do whatever they wish even if it kills you. Without regulations/laws, you can do nothing about it. They may have killed you but they didn't break any laws in the process... get it?
 
What an interesting question. At first I was inclined to say it needs no regulation. Then I thought a bit and my first thought then was about gasoline and big oil. Without some kind of regulation they would probably go wild (like they aren't already)...then there is our electrical bill, Lord knows they would charge anything they want, and garbage collection and on and on. Yes, some regulation is necessary. As for merchandise, the market pretty much sets that because if you think something costs too much, you simply look for something else.
 
Easy Rider said:
In order to be able to sue someone in court, you must be able to prove they violated a particular Law (Regulation). If there is no Regulation to protect you from injury, you have no grounds to file suit. The manufacturer/service provider can do whatever they wish even if it kills you. Without regulations/laws, you can do nothing about it. They may have killed you but they didn't break any laws in the process... get it?
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I wouldn't use it that way obviously. They would only have to prove harm to the environment or bodily harm by showing the product is responsible for the harm. If they can't do that they lose. The laws behind this would be more general than the system we have today which should be clear by now.

Anyway, the current court system is not able to handle the change and would need major changes to allow better access and better results.
 
coolwalker said:
What an interesting question. At first I was inclined to say it needs no regulation. Then I thought a bit and my first thought then was about gasoline and big oil. Without some kind of regulation they would probably go wild (like they aren't already)...then there is our electrical bill, Lord knows they would charge anything they want, and garbage collection and on and on. Yes, some regulation is necessary. As for merchandise, the market pretty much sets that because if you think something costs too much, you simply look for something else.
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As for the market, I would prefer not to buy products that potentially put me in danger and to have to sue (if I live through the product) a company that has far more resources than I do and can make me "go away" as my chances to affect positive change are essentially nil.
 
megaprogman said:
As for the market, I would prefer not to buy products that potentially put me in danger and to have to sue (if I live through the product) a company that has far more resources than I do and can make me "go away" as my chances to affect positive change are essentially nil.
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Using the current workings of a system to say a change would be unreasonable makes no sense.

And today you have the same problems with potential harm...
 
Henrin said:
Using the current workings of a system to say a change would be unreasonable makes no sense.

And today you have the same problems with potential harm...
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The current system is class action lawsuits that gets you a $5 coupon for harm. Its worthless. One industry where people can and do sue for harm, the medical field, is seeing tort reform in many states, which limits its use as a regulatory mechanism.

Yes, there is potential, but less overall as regulations can be written broadly and across multiple companies.
 
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megaprogman said:
Yes, there is potential, but less overall as regulations can be written broadly and across multiple companies.
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That is just a way to control the entire industry that might not be even causing harm. Any just system only goes after those who cause harm.
 
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