Comment Re:Aha! (Score 1) 214
I think it's common for people to romanticize about the possibility that a "free market" could actually exist, but beyond the econ 101 textbook there is the real world and judging by our history humans usually seem to "cry foul" when the invisible hand threatens their security and call for socially-motivated programs (like the new deal) to help protect them from the market deciding that certain people have lower value to the marketplace than they themselves are prepared to accept.
The free market is a nice dream that might even work quite well if it didn't have human psychology to contend with, which seems to demand that once we organize ourselves in to a group called society, that it is "civilized" and "decent" to offer protection to those who once contributed to the market and were later tossed out either because they couldn't adapt or support themselves.
That is not to say that I support price controls or antitrust laws, or even don't support the (always failing) social security program. I'm actually pretty neutral on economic matters provided I have the freedom to make my own financial decisions and the money in the bank to take care of myself when the market shifts. I only comment because I often hear people spout off about Adam Smith, and when I do it often sounds quite naive given the broad spectrum of market forces competing with the invisible hand.
The free market is a nice dream that might even work quite well if it didn't have human psychology to contend with, which seems to demand that once we organize ourselves in to a group called society, that it is "civilized" and "decent" to offer protection to those who once contributed to the market and were later tossed out either because they couldn't adapt or support themselves.
That is not to say that I support price controls or antitrust laws, or even don't support the (always failing) social security program. I'm actually pretty neutral on economic matters provided I have the freedom to make my own financial decisions and the money in the bank to take care of myself when the market shifts. I only comment because I often hear people spout off about Adam Smith, and when I do it often sounds quite naive given the broad spectrum of market forces competing with the invisible hand.
