Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Utopian indeed, but highly presumptuous upon the perfect and long-term nature of the people in command...and an educated public. In this case there are few clearer examples for economist George Akerlof's discussions on information asymmetry The_Market_for_Lemons .

Given that and the horrid record that capitalism has for failing to short-term solutions when problems poke their omnipresent heads, I would go for the government role in creating logical regulations for corporate behavior, and regulations that allow for self-certification if associated with mandatory in-house training (in the field and in the ethics of holding the standard) plus mandatory outside inspections. Much like what Robert enumerated, but well into the ISO 9001 mentality.

As far as your simpering attempt to excuse your ridiculous try at cleverness while bashing Robert, give it up. Neither the bashing nor the excuse create your desired effect.

Never underestimate their intelligence, always underestimate their knowledge.

Frank Delaney ~ Ireland

by siegestate (siegestate or beyondwarispeace.com) on Tue Apr 15th, 2008 at 08:34:40 AM EST
[ Parent ]
siegestate, yes I believe that you get the idea of asymmetrical information problems and how they can manifest in a market. But although these problems can hamper the efficiency of a market it does not mean that no markets are formed. Take the asymmetrical markets of used cars. We still have used car markets and a variety of market solutions have been developed including some business models as well as information clearing houses.

So maybe you get what I mean by market enhancing regulations vs market destroying regulations. If it is to overcome asymmetrical information for consumers then some could be actually beneficial. Of course it could also become an undue burden to small businesses.

As far as "the horrid record that capitalism has", by what standard are you judging it? It seems that all human endeavors are not 6 sigma no matter how much we live in that Utopian world. How did the alternative system work out?

As far as bashing, ask Robert what he thinks of Economists and Libertarians.

Rutherfordian ------------------------------ RDRutherford

by Ronald Rutherford (rdrradio1 -at- msn -dot- com) on Tue Apr 15th, 2008 at 02:19:53 PM EST
[ Parent ]


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