"Since a free market economy is a precondition for freedom"
In that case, freedom had a heart attack in 1887, with the birth of the ICC. By 1890, with the antitrust act, it was almost gone, but managed to hang on until 1915, when the first stop sign was installed in Detroit.
Sen. John Sherman ( R– OH), the principal author of the Sherman Antitrust Act.
en.wikipedia.org
"It is a very rare occasion in which bureaucratic regulation can approach the efficiency and performance of a free market."
Of course; you are much more efficient when you hire 10 year old kids at $2/hr, without providing bennies or OT, and dump all your pollution in rivers and the sky because you don't have to meet any clean air/water standards. Everybody else gets screwed, but it sure is efficient.
" there is a downside."
Only to the owners; the rest of us gets decent wages, decent bennies, clean air and water, SS and Medicare in our old age, reasonably safe working conditions, etc. |
