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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (38543)	11/13/2009 2:01:50 PM
From: Peter Dierks	Read Replies (1) \| Respond to of 71588

The main key it seems to preventing as many as is possible So actually encouraging them would be a no no? Yet that is exactly what Barney Frank, Chris Dodd et al did.

To: DuckTapeSunroof who wrote (38543)	11/13/2009 5:12:34 PM
From: TimF	Read Replies (1) \| Respond to of 71588

Because Adam Smith's "Invisible Hand" CANNOT FUNCTION as the highest/best allocator of resources WITHOUT market participants having as close to "perfect knowledge" as is possible. False. It functions in the best possible way under simplified perfect competition and total knowledge assumptions, but its almost always the best way to go even in the more complex real world. Most of the weaknesses it has when you have imperfect knowledge and/or competition are shared by any alternatives, and the alternatives add their own problems to boot.