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Comment Re:Behold, a free market evangelists dream takes f (Score 1, Insightful) 666

This is unregulated laissez faire capitalism at its finest.

Don't be absurd. In laissez faire capitalism the shipping companies would be free to arm their vessels and hire guards to protect themselves from predation. Due to current international treaties, they cannot do this, thus creating an extremely uneven playing field. What this is instead, is A) Yet another example of the fallacy of unilateral disarmament. B) Yet another example of the fallacy of entrusting the defense of your life, liberty and property to the state. Think of it as a school that will suspend you for fighting should you choose to defend yourself against the bully who wants your lunch money.

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If all the world's economists were laid end to end, we wouldn't reach a conclusion. -- William Baumol