Re:U.S. Consumer Bureau Loses Fight to Allow More Class-Acti...
by nerdponx on Wednesday October 25, 2017 @07:45AM
(#15549245)
This is a good point, and it highlights where “corrupt and evil free-market economics“ diverges from the idealized Hayekian free-market economics that these politicians are pretending they adhere to.
If you have no choice of where to shop, and you have no recourse for making yourself whole when your only vendor abuses their monopoly power, that is not an “efficient“ free market.
Because that is ultimately the cover they use for all of this deregulation. “Deregulation hurts business“ is the only argument I have ever heard in favor of this kind of policy. But that is such an obvious lie at this point. That it seems they aren’t even trying t pretend policy has an economic basis anymore. But apparently the damage to the public’s ability to form an opinion has already been done.
If you have no choice of where to shop, and you have no recourse for making yourself whole when your only vendor abuses their monopoly power, that is not an “efficient“ free market.
Because that is ultimately the cover they use for all of this deregulation. “Deregulation hurts business“ is the only argument I have ever heard in favor of this kind of policy. But that is such an obvious lie at this point. That it seems they aren’t even trying t pretend policy has an economic basis anymore. But apparently the damage to the public’s ability to form an opinion has already been done.