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Politics : Formerly About Advanced Micro Devices

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Don Hurst

To: koan who wrote (761559)	1/6/2014 9:21:28 AM
From: combjelly	1 Recommendation Read Replies (2) of 1574489

Friedman was a nutcase as was Sowell. I wouldn't call them nut cases. Just wrong. It isn't like economic systems they promote don't work, they do. But those economies are fragile and spectacularly fail at some point. Partly because they have the side-effect of shifting income upwards. Granted, too much regulation and oversight can be a burden. But too little means that free and fair markets become unfair markets. Unfair markets means that the markets are free in name only as the larger members squeeze out the smaller ones and raise barriers to entry. As the pool on entities who control the markets dwindle, the likelihood of a single player making a single mistake and/or misjudgement that triggers an economic collapse rises. Lots of examples in history. But 2008 and Lehman Brothers is the most recent example... Things were fragile enough that Lehman Brothers, number 4 in their sector, was enough to end the game.

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