Free Market question

Free Market question (Full Version)

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tazzygirl -> Free Market question (9/27/2011 6:33:14 AM)
I cant quite grasp the concept of the following statement I heard last night... In a free market society, you cant commit fraud... Thats paraphrased a bit.. but that was in essence the statement. Why does that not ring true?

DomKen -> RE: Free Market question (9/27/2011 8:36:07 AM)
quote: ORIGINAL: tazzygirl I cant quite grasp the concept of the following statement I heard last night... In a free market society, you cant commit fraud... Thats paraphrased a bit.. but that was in essence the statement. Why does that not ring true? It's Ayn Rand nonsense. In simple terms it is the belief that in a true free market society everyone would exercise competent due diligence before doing anything. Therefore, in this fantasy, fraud is impossible.

mnottertail -> RE: Free Market question (9/27/2011 8:56:06 AM)
And in any case the hypothesis is untestable, what with there being no free market anywhere on this globe. But it would fail colossally if there were a test in a free market.

Marc2b -> RE: Free Market question (9/27/2011 9:06:23 AM)
quote: Why does that not ring true? Because it is so obviously a crock of shit. Did I say crock of shit? Opps, I ment compost, wonderful organic compost which can be yours for the low, low price of only $99.95!

tazzygirl -> RE: Free Market question (9/27/2011 9:45:17 AM)
No opposing view points? No one think its true?

SternSkipper -> RE: Free Market question (9/27/2011 10:43:58 AM)
quote: quote: Why does that not ring true? Because it is so obviously a crock of shit. Did I say crock of shit? Opps, I ment compost, wonderful organic compost which can be yours for the low, low price of only $99.95! Wait just a second... OUR Free market Policy has worked out WONDERFULLY FOR MEXICO. NAFTA woulda worked if we moved the day after signing.

willbeurdaddy -> RE: Free Market question (9/27/2011 11:03:21 AM)
FR quote: In a free market society, you cant commit fraud... Thats paraphrased a bit.. but that was in essence the statement. Why does that not ring true? Most likely because its so badly paraphrased that its now just another strawman.

mnottertail -> RE: Free Market question (9/27/2011 11:08:22 AM)
most likely that it was so badly imagined and proposed by the fucking imbecile who uttered it initially.

Sanity -> RE: Free Market question (9/27/2011 11:19:05 AM)
Better question, In a socialist economy wherein government is the be-all and the end-all, what recourse does the individual have when those in power are absolutely corrupt quote: ORIGINAL: tazzygirl I cant quite grasp the concept of the following statement I heard last night... In a free market society, you cant commit fraud... Thats paraphrased a bit.. but that was in essence the statement. Why does that not ring true?

mnottertail -> RE: Free Market question (9/27/2011 11:25:46 AM)
Why don't you tell us Comrade Stalin?, you old gaybasher you!!!!

tazzygirl -> RE: Free Market question (9/27/2011 1:28:28 PM)
quote: ORIGINAL: willbeurdaddy FR quote: In a free market society, you cant commit fraud... Thats paraphrased a bit.. but that was in essence the statement. Why does that not ring true? Most likely because its so badly paraphrased that its now just another strawman. Actually, if you have the exact phrase, please remind me. [;)]

tazzygirl -> RE: Free Market question (9/27/2011 1:33:50 PM)
Never mind, I found it [:D] and my paraphrasing was accurate

tazzygirl -> RE: Free Market question (9/27/2011 1:34:56 PM)
quote: Better question, In a socialist economy wherein government is the be-all and the end-all, what recourse does the individual have when those in power are absolutely corrupt Who controls the corrupt in a "free market" society?

SternSkipper -> RE: Free Market question (9/27/2011 1:45:17 PM)
quote: Better question, In a socialist economy wherein government is the be-all and the end-all, what recourse does the individual have when those in power are absolutely corrupt Why is THAT a better question?

Epytropos -> RE: Free Market question (9/27/2011 2:34:06 PM)
Fraud implies that someone has been tricked. If someone has been tricked, that in turn implies that they had no agency in what occurred. If they failed to exercise due diligence, then they accepted fraud as an acceptable risk. If they accepted it, they had agency in it, which means it wasn't fraud. At least, that's how I imagine the reasoning would go. Personally I don't fully agree with it, but I could definitely see a compelling argument being made in a social darwinist or objectivist model.

Masta808 -> RE: Free Market question (9/27/2011 2:47:22 PM)
Exactly that is the true essence of a Free Market. If I wanted to commit "false advertising" there would be no such thing because false advertising is government regulation. If I wanted to commit some "anti-trust violation" such as price fixing with my "competitors" I could and there wouldnt be a damn thing you could do to stop me. If I wanted to sell you chicken that I took a shit in, I could. isnt the free market a wonderful thing.

Fellow -> RE: Free Market question (9/27/2011 3:35:33 PM)
It has been often argued libertarian type true free market systems do not control monopolies and fraud. Therefore, large governments are necessary to impose controls. In practice, of course, the governments themselves commit and aid massive fraud no free market system would be capable of. I would argue, free market systems have a strong community base, and this itself reduces fraud, while highly centralized systems (like in the US) massive fraud and corruption are natural phenomena. No free market system could generate fraud and corruption in scale it happens today in the US (and actually worldwide).

TreasureKY -> RE: Free Market question (9/27/2011 3:47:40 PM)
quote: ORIGINAL: tazzygirl Never mind, I found it [:D] and my paraphrasing was accurate Perhaps you could share with us?

rulemylife -> RE: Free Market question (9/27/2011 4:03:43 PM)
nevermind

rulemylife -> RE: Free Market question (9/27/2011 4:17:31 PM)
quote: ORIGINAL: Fellow It has been often argued libertarian type true free market systems do not control monopolies and fraud. Therefore, large governments are necessary to impose controls. In practice, of course, the governments themselves commit and aid massive fraud no free market system would be capable of. I would argue, free market systems have a strong community base, and this itself reduces fraud, while highly centralized systems (like in the US) massive fraud and corruption are natural phenomena. No free market system could generate fraud and corruption in scale it happens today in the US (and actually worldwide). [sm=alien.gif] So the recent banking crisis was really generated by the government? How about the mortgage crisis? The government again? What if we go back to the savings and loan scandal?

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