The underlying problem with this view is that even in a completely free market, wealth tends to concentrate.
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And those with concentrated wealth will always seek to restrict the market in their favor. A free market cannot stay free by itself for long
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To ensure a free market, some entity (e.g., government) needs to prevent market stifling by accumulated wealth.
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1) not sure how separating economy and state is possible. I'm trying to imagine a full separation, and I don't think it can be done.
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I agree that big business should not have special influence on govt. Ideally govt penalizes externalities and prevents mono/oligopolies.
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@zingales also makes this point well here https://promarket.org/donald-trumps-economic-policy-pro-business-not-pro-market/ … and elsewhereThanks. Twitter will use this to make your timeline better. UndoUndo
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is that the Matt Ridley who was in charge of Northern Rock that needed bailing out in 2007 despite his ruthless view of business?
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Too right. Easy to talk big and macho on economics when it's all theory. The real test is when it's your own money on the line.
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Wait. This guy's former company got a govt bailout & he's just written a novel against corporate welfare?!
Does make some good points tho.
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Truly 'free markets' are as ideologically absurd as 'communist utopia'. All ideals must be permanently aspirational or descend into chaos.
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Centrally planned economies = extreme crony capitalism. Irony, really. Left thinks they can solve problems by promoting them to government.
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I think the Right can make a case for unregulated markets that doesn't almost immediately result in Enron, Lehman Bros or Mylan anytime...
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Most really nasty monopolies and "too big to fails" require active government enablement. So...
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I mean, those are the best examples of unchecked capitalism in recent memory. So like I said, if the Right wants to actually make a case...
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Capitalism really means two things. Corporatism with assistance of political power, and entrepreneurial meritocracy.
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I'm cautiously delighted that most people across pol spectrum agree that entrepreneurial is good. Can also agree cronyism bad.
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Legislative support for corporatism is not a place for the GOP to tell anybody they are the good guys...so taking about meritocracy is cheap
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Definitely talking about specific American parties rather than in general, got it. As an European classical liberal, you have no right party
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