The Subprime Morals of The Free Market Mind

Free Market Welfare Kings-Free market zealots who preach the religion of the Invisible Hand love welfare! No, not the welfare that might help the poor and the victimized- the welfare that changes "free" market gamblers' diapers when they shit them up.

Explaining the Subprime Brain of the Free Market Welfare Kings

Category:

News & Politics

Tags:

• Subprime
• free
• market
• republican
• mortgage
• crisis
• ayn
• rand
• milton
• friedman

[TimeWarp66]

Not a single free marketer supported this bailout. It was only big government Liberals like Barney Frank.

[MDCeasar]

In reality businesses aren't against minimum wage because they can't afford that while making a great profit. They are against it because they can't afford to pay a living wage AND continue living their incredibly lavish lifestyles!

[TimeWarp66]

from 1781- 1913 the United States was a free market society. How do you explain that?

[TimeWarp66]

That isn't true. In a free market if store A pays its workers $5 an hour and store B pays $6, who do you think workers will gravitate towards? Store B obviously, so store A is forced to either raise its wages to their employees or go out of business. Profits and lavish life styles have nothing to do with it.

[MDCeasar]

And you help me make a great point sir: the free market is a fantasy that cannot exist in the real world. The distribution of wealth is already severely skewed, so those who have the money (and power) will retain it and utilize it to the detriment of others without restrictions/regulations. You make a good point about minimum wage, but what sort of businesses are you referring to which can't afford to pay a living wage?

[TimeWarp66]

That is pure nonsense. If "rich people" or any people control government and use it to benefit them, then a free market does not exist. Minimum wage laws hurt the people you are most wanting to help! If i'm an employer and I want to hire you, but lets say I can only pay you $6 an hour, and you agree to that wage, the government steps in and says "oh no, you have to pay all your workers a minimum of $7.50 an hour." Well if I can't afford to pay you that, you go without a job.

[MDCeasar]

In a free-market system local governments are controlled by those with the most money/power. Those people WILL enjoy the benefits while the poor suffer and die. Without a minimum wage workers will starve anyway. It is not at all in a business' fiscal interest to adequately pay/protect employees employees. The business won't be forced to provide adequatly because there will be nowhere better for workers to turn.

[TimeWarp66]

The reason I say local govt is because it is the most responsive to the governed. The more distant and centralized bureaucracies become, the less responsive they are to specific problems in communities. Minimum wage laws actually increase poverty by increasing unemployment. The best mechanism thus discovered for irradicating poverty is the free market. When I say local govt, I mean City gov, so poor neighborhoods will not go without and the rich will not control everything. lol.

[MDCeasar]

Who pays these legislators? Rather I should say, who buys their votes? =o) With no social services (welfare) or minimum wage, do you not suppose many people will wind up starving, homeless, committing rampant crime? Local governments. So the good (wealty) neighborhoods with thrive, what of the lower-income areas? No healthcare, food, or educaton for the poor. The rich in control of everything. Sounds ideal.

[TimeWarp66]

We need legislators to determine what constitutes these abuses. As well as our written constitution which lays out the proper guidlines for the state. You do not need minimum wage laws, terrifs or other forms of state controls to protect citizens from force/fraud.

Traffic operations and sanitation are proper functions of LOCAL government because their is no practical way the private sector could run those institutions. Healthcare and education must be left to the market.

[MDCeasar]

Who should decide what constitues fraud, coercion, and collusion? If you reach too far to protect consumers/citizens from these forces you're back where we started: regulation. Additionally, who is to fund these protective measures? How about Public Education, Healthcare, Sanitation, Traffic Operations?