What is a market? What is capitalism? Why regulation?
(I wrote in response to a conversation between Kir Politicoid and Ann Watson at the comments section of Alternet.) Maybe we are having a failure to communicate across the disciplines?
A market is not a word that means capitalism. Every economic system creates a market. Its the nature of the market and its common currency that varies.
There are laissez-faire capitalist markets in low-regulation countries and better-regulated capitalist markets in civilized society. (Yes, I know i am using laoaded terms. I do it for a good reason.) Laws enacted during the last century saved us from the worst effects of the ruinous pollution all around us. Laws protect normal hardworking families from corporate crimes.
Regulations have the opposite effect: they allow companies to pollute the land and sea and leave the rest of us to die poor, in horrible pain from the diseases their activities create. Marco Rubio HATES that we want to punish these evildoers. I think that Marco Rubio is Satan.
Big corporations will try to kid you that they have perfectly good reasons for dumping X into our drinking water and then refusing to pay court-ordered damages to the community injured by their bad acts.
Big corporations love regulation for yet another reason: the penalties for avoiding a regulation are much cheaper to pay, avoid, or pursue in court than defending the violation of an actual LAW.
There are socialistic markets in tribal and band cultures. The chief makes sure that everyone gets enough of what they need so that no rivalries based on wealth occur. I like that idea. We all help take care of each other.
Anthropologists say that a cultural band of about 150 people is the optimally-functional size. My experience attests to that low maximum. Our 4,000-student high schools are factories of alienation and anonymity.
Inspired by Five Studies Show How Wealth Warps Your Soul