Re: Madness: Bailing Out Greed in Wonderland

[David Farber <dave () farber net>]

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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