Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
What a lovely religion you have. Unfortunately, nothing you say is true in the real world as opposed to the world of voodoo.

Competition and free market economies benefit the CONSUMER.

Sometimes, when appropriately regulated. Sometimes they don't - see the energy, rail and other infrastructural markets like health or education. I'm sure you're familiar with the sections of Hayek and Smith where they point out  there is a role for public provision there. I'm not sure if Friedman is sane enough to admit it: I still haven't got around to reading his stuff.

No one person controls the price of anything.  

No, that would take groups of companies colluding. Which I'm sure never happens in the wonderland that is the US. In the real world, I'll refer you to The Wealth of Nations for what happens when producers meet.

So, for example, government starts giving out student loans to help students.  Now, students have more money to go to college if they are willing to hock themselves in debt. The result in the US, massive inflation in education costs.

And lots of people having the opportunity of a college education that didn't have it before ... what was the effect of that on the economy.

Suitably regulated markets are among the tools we have to achieve our aims as a society. The stock and financial markets rely on brutal regulation to function at all: look what happens when the regulations are enforced badly or not adapted to the changing market.

by Colman (colman at eurotrib.com) on Mon Dec 17th, 2007 at 12:10:23 PM EST
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