Irony at its best. …unfair business practices, monopolies, collusion, price fixing, price gouging, vendor lockouts, rip-offs, deception, even dangerous products, etc...
All these can be attributable to Govt regulations more so than Capitalism. Govt IS the monopoly, price fixing, price gouging, vender lockout, (money wasting) rip-off, deceptive, collusive, killer drug approving, unfair business practice MACHINE of all time.
…government not understanding the consequences of their actions, and handing complete control over an important market to a single company, is the point of this post.
That’s exactly what I said. The unintended consequences of regulation caused S Korea to shoot itself in the foot. I was sarcastically pointing out that setting, what always looks like “appropriate and sensible regulation” at the time, has caused more damage to the world than Capitalism ever could. The disastrous regulations of N Korea, Cuba, the Soviet Block & China have killed 100’s of millions more than Capitalism.
Unregulated capitalism accomplishes the opposite.(of competition) …the free market can only exist in the long-term through appropriate and sensible regulation.
Really, a “Free” market can only exist by being regulated?? Do you see the irony of your statement?
Govt getting it wrong by setting “appropriate and sensible regulation” is the point of this post. S Korea destroyed competition for IE with regulation, currently making things worse than if the unregulated market had been embraced. I can’t understand how you can think a bunch of bought off bureaucrats are more incentivized to "get it right" than the likes of Steve Jobs and those with Billions at risk. The numerous TechDirt posts about the current regulatory assault by Govt on the “Free” Internet (SOPA, ACTA, TPP, CISPA) should be example enough. Regulations limit choice and destroy wealth, thus destroying freedom.
I know that Steve Jobs could have done more with $1B than any of those idiots in DC could have done with $100B.
Come back to reality.
The Oil Boom is the reason North Dakota is doing so well, not the bank. The state is collecting record tax revenues from the drilling of Earth Killing Oil which it is depositing into the state bank. Without the oil, ND would be a 19th century agrarian society. North Dakota = DRILL, BABY, DRILL.
Greece, Portugal & Spain are all spending above what their economy’s GDP can handle.
Why does Spain have near 50% unemployment? Socialism
Why do all the above countries have austerity? Socialist spending.
My favorite line for the story: ...and(the German Govt) has just announced that it will bring in a compulsory licensing scheme for the use of even "small parts" of journalistic articles on commercial sites. More destruction.
Socialism if full of corrupt, half wits who would have put Steve Jobs in chains for being a Capitalist.
When the EU finally collapses due to Socialism, maybe you'll understand what Steve Jobs did - "You have to be run by ideas, not hierarchy. The best ideas have to win."
Re: Re: Re: Wow! I guess the government schools don't want free speech.
The main problem with your argument is that Capitalism requires creative destruction and greed(competition to win), as Steve Jobs stated "You have to be run by ideas, not hierarchy. The best ideas have to win." His strong belief in Capitalism has done more to change the world than any Socialist/Communist program ever. He wanted to win and did.
As more Govt becomes involved, Capitalism breaks down and steals wealth from the likes of Steve Jobs. Capitalism can exist without Govt and does every day on Craigslist, but Socialism is dependent on Monopolies of Govt to work.