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To: Charles Hughes who wrote (21674)11/23/1998 11:51:00 AM
From: Gerald R. Lampton  Read Replies (1) of 24154
 
Charles, I don't want to put words in your mouth, but, in re-reading your post on Friedman, it sounds like maybe you are too hung up on the fact that Friedman's theories of how the market should work don't conform to what you see going on in the real world. You take out some model, see that the world doesn't conform to the model, get all frustrated and emotional, and throw out the model along with everything that went into it. It looks to me like you are throwing out all of classical liberal economics just because the real world doesn't conform to the economic assumptions of perfect competition.

Whether or not the world conforms to some a priori model is not the issue. The issue is whether the market mechanism, with its competition, whether perfect or imperfect, is better in the real world than the alternatives at providing the things people want.

I believe that is it is, and just maybe you will too if you think about it calmly and logically.
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