How to de-program a "free market" conservative?

[MulaMan]

http://www.henryckliu.com/page198.html

[sunskyfan]

Re: How to de-program a "free market" conservative?

"Traders can manipulate prices by market timing and speculators can manipulate prices by hoarding or flooding the market. Cartels can be formed in unregulated markets by agreement among market participating groups to create monopolies with unfair market power. Currency issuers can manipulate exchange rates by central bank adjustment of monetary policy measures such as interest rate policies to manage quantitative easing or tightening. Money market participants can manipulate prices by interest rate arbitrage.

Thus free markets require sophisticated, complex and dynamic regulations to restrict the ability of market participants to manipulate prices through monopolistic practices, rendering highly problematic the literal meaning of an unregulated free market. Totally free markets tend to end in market failures. This is particularly true in money markets as finance is infinitely more pliant that physical goods."

A good read. I think the term CARTELS will be the term that comes to dominate our culture. The CARTELS will be the lines formed in our culture/economics/politics that define our "Balkinization" that we all fear is coming.

[marvenger]

Re: How to de-program a "free market" conservative?

Capital can cross national borders to where cost and wages are lowest but workers cannot go where wages are highest because of immigration restrictions. The net effect is global wage stagnation in the midst of spectacular multinational corporate profits that results in global overcapacity. To the chagrin of supply-siders, supply outraced demand even when demand was held up with a debt bubble.

so it seems it was globalisation that necessitated the FIRE economy