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Re: Madness: Bailing Out Greed in Wonderland
From: David Farber <dave () farber net>
Date: Thu, 18 Sep 2008 09:54:56 -0400

I agree. I am going to start exercising eitorial control by asking submitters to give a reference if I thing things are bull or PR. I don't think IP is full of it actually. I assumne IPers can rapidly delete BS.

Dave

Begin forwarded message:

From: "David P. Reed" <dpreed () reed com>
Date: September 18, 2008 9:42:57 AM EDT
To: dave () farber net
Cc: ip <ip () v2 listbox com>, Vadim Antonov <avg () kotovnik com>
Subject: Re: [IP] Re:       Madness: Bailing Out Greed in Wonderland

"Every case" "conclusively shown" ? I'd like a citation on that one. IP is now full of hyperbolic bullshit and PR flack canards.

David Farber wrote:


Begin forwarded message:

From: Vadim Antonov <avg () kotovnik com>
Date: September 17, 2008 8:39:17 PM EDT
To: David Farber <dave () farber net>
Cc: ip <ip () v2 listbox com>
Subject: Re: [IP] Re:      Madness: Bailing Out Greed in Wonderland


Dave - for IP if you wish.

From: Russ Nelson <nelson () crynwr com>

My own feeling?  We need separation of markets and state.  You may
gasp "Not possible!  What about market failure?!?"

The reality is that there wasn't a single documented case of market
failure observed in the entire history of mankind. Every case claimed to
be a market failure was conclusively shown to be a result of previous
distortion of the market by political action (granting monopoly
priveleges, suppressing competition by regulation or force, excluding
private interests from controlling some commons, etc).

Some time ago the Wikipedia article on "market failure" had an empty
section for specific real-life examples. As a challenge to the proponents
of market failure justification for political intervention I filled in
this section with a simple statement that none were observed.

Well, the proponents have "corrected" me.  By removing the section
altogether. One would think that if there indeed was an indisputable
example of real-life market failure someone would've provided it, thus
settling the argument conclusively.

--vadim





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