The libertarian delusion

Atlas shrugged and said "what blizzard?"

Bill Moyers. You should go read the rest:

The free market doesn’t live up to its billing because of several contradictions between what libertarians contend and the way the real world actually works. Fundamentally, the free-market model assumes away inconvenient facts. Libertarians presume no disparities of information between buyer and seller, no serious externalities, no public goods that markets can’t properly price (Joan Fitzgerald’s piece in our special report in the Winter 2015 issue of The American Prospect magazine discusses one — water), and above all no disparities of power. But in today’s substantially deregulated economy, bankers have far more knowledge and power than bank customers (witness the subprime deception); corporations have far more power than employees; insurers have more power than citizens seeking health insurance. Labor markets can’t compensate for disparities of power. The health insurance “markets” created by the Affordable Care Act can’t fully address the deeper problem of misplaced resources and excessive costs in our medical system.

5 thoughts on “The libertarian delusion

  1. Simply stated Republicans are reactionary capitalists and Libertarians are utopian capitalists. They should not be confused with Democrats who, for the most part, are Keynesian or moderate capitalists. A rose is a capitalist by any other name and we need to dump the theory of capitalism into the waste bin of history.

    Clinton is a capitalist of the moderate type who believes that she’s smarter and slicker then the rest of us.
    The Federal Records At of 1950 (as amended) requires that all government employees use a secure government provided e-mail account when conducting official government business.
    Clinton decided that as Secretary of State the Act didn’t apply to her. So she used her own personal e-mail account to conduct all of her government business. A fact that wasn’t discovered until the Benghazi investigation uncovered it.
    Clinton now claims that she has turned over to the proper authorities every single e-mail related to her tenure as Secretary of State.
    How do we know that that’s the case?
    Both of the Clinton’s have a propensity to lie when the going gets tough.

  2. So, Im, it was OK for Bush to do it, but not Hillary?

    Libertarians are Republicans smoking pot. Anarchists are the only true Free Market Capitalists, as free market capitalism is simply anarchy. Cash only, in small bills.
    Bummer we never have any candidates.

  3. “Libertarians are Republicans smoking pot. Anarchists are the only true Free Market Capitalists, as free market capitalism is simply anarchy. Cash only, in small bills.”

    What, no bitcoins?

  4. Nobody said that Clinton broke a law. The charges against her include stupidity, guile, hubris, lying and the possible theft of government (the people’s) property. If you believe that Clinton has turned over all of her e-mails then you’re probably going to vote for her anyway and think that she is being unfairly attacked. A Bronx cheer to those folks.
    When the standard is that ” Bush did it so why should Clinton be criticized for doing the same thing” then this country has reached rock bottom.
    There is no such thing as a “free market.” Please, someone give one current or historical example of a free market. Anarchy is less about capitalism then it is about barter and exchange sans a formal governmental system. Now that’s utopian. But attainable.

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