Hyundai suspending two US suppliers because of child labor

Re:Hyundai suspending two US suppliers because of child labor by WalterSear on Saturday October 22, 2022 @02:04PM (#33300534)

On the contrary: this is free market end game. A market that is not for sale is not a free market.

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Re:Hyundai suspending two US suppliers because of child labor by timellis-smith on Saturday October 22, 2022 @02:10PM (#33300583)

Is it?

I think true free marketers are about fair competition, and few would argue that legislation is necessary.

Allowing one company to benefit by illegal behaviour distorts the market and thus goes against the principles of free markets.

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Re:Hyundai suspending two US suppliers because of child labor by pbhjpbhj on Saturday October 22, 2022 @02:25PM (#33300729)

Really? "Fair" is not at all a free market concept.

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Re:Hyundai suspending two US suppliers because of child labor by Dylan16807 on Saturday October 22, 2022 @02:45PM (#33300928)

I don't know why you got downvoted for that.

Fair competition is the ideal state for a market to be in, but a free market is about unrestricted competition and that can easily turn into monopolies or cabals.

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Re:Hyundai suspending two US suppliers because of child labor by phpisthebest on Saturday October 22, 2022 @03:53PM (#33301554)

Ok then, highlight all the times where a market has resulted in a monopoly with out underling government regulations limiting the ability of new entrants to the market.

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Re:Hyundai suspending two US suppliers because of child labor by beiller on Saturday October 22, 2022 @06:12PM (#33302682)

I do believe government intervention has many unintended consequences but I'll take a stab at this. How about google search?

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Re:Hyundai suspending two US suppliers because of child labor by phpisthebest on Sunday October 23, 2022 @08:50AM (#33306561)

That was the obvious rebuttable, and to be honest I have a hard time countering that however the obvious statement is search really a market since it is a "free" product. One has to ask what is the actual market, is it the search engine or the advertising that pays for the search? Google while dominate is not a monopoly for Online Ads, so while they command a 90-95% market share in "online searches" that is not the product they sell so traditional market dynamics are not at play so I am hard pressed to call online search a "free market" given nothing it being sold, what is being sold is the ad space on google search.

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Re:Hyundai suspending two US suppliers because of child labor by guywithahat on Saturday October 22, 2022 @04:24PM (#33301870)

It's the very definition of a free market concept. The price the market determines for something is the fair price, to charge more or less would be unfair to someone else

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Re:Hyundai suspending two US suppliers because of child labor by WalterSear on Sunday October 23, 2022 @06:52PM (#33311083)

Ridiculous. You are conflating usage of the term 'fair'.

Fair market value is a reference to what the market will bear, not what is or is not fair.

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Re:Hyundai suspending two US suppliers because of child labor by WalterSear on Sunday October 23, 2022 @06:53PM (#33311090)

> I think true free marketers are about fair competition, and few would argue that legislation is necessary.

Exactly. Without legislation, the market is for sale.

> Allowing one company to benefit by illegal behaviour distorts the market and thus goes against the principles of free markets.

You've noticed the tautology at the heart of the ideology.

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