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Listen up faggots.
The idea of a free market economy reasonably allocating resources and benefiting society is on par with communism in terms of how utopian, unrealistic, and nonsensical it really is.
A free market does not exist, has never existed, and will never exist for the same reasons why a truly communist system has never emerged: it is impossible and it does not work. State intervention in certain industries has always historically occurred to alleviate the worst conditions brought upon by laissez faire.
>State intervention leads to crony capitalism!!
The close relationship between government and business is something that is permitted by both the left and the right in America, as both Rand Paul and Bernie Sanders - the two outsiders in their own sides of the spectrum - will tell you. This is the result of political corruption and its a matter of political economy; the politics behind the implementation of economic policy. Reforming the systems of campaign finance and lobbying are the only ways this can be fixed. Notice how both Sanders and Paul make this a central point to their campaigns.
>But Hayek said socialism sucks!
Hayek was criticizing highly centralized planned economies, nothing like Social Democracy or the mild mixture of capitalism and socialism that is seen in the countries with the highest standards of living. Hayek also said government intervention in industries is necessary to guarantee competition (hence why libertarians love him). But he (along with Keynes) explicitly acknowledged that it was up to the state to pursue matters of equality and social justice (social justice in terms of healthcare, wealth inequality and such - not SJWs or some shit), because he wasn't dumb enough to think market forces will magically make everything wonderful.
Libertarians are respectable in that they identify the correct problem, but they are misguided in their proposed solutions. The fabled free market is a utopian proposition.
The idea of a free market economy reasonably allocating resources and benefiting society is on par with communism in terms of how utopian, unrealistic, and nonsensical it really is.
A free market does not exist, has never existed, and will never exist for the same reasons why a truly communist system has never emerged: it is impossible and it does not work. State intervention in certain industries has always historically occurred to alleviate the worst conditions brought upon by laissez faire.
>State intervention leads to crony capitalism!!
The close relationship between government and business is something that is permitted by both the left and the right in America, as both Rand Paul and Bernie Sanders - the two outsiders in their own sides of the spectrum - will tell you. This is the result of political corruption and its a matter of political economy; the politics behind the implementation of economic policy. Reforming the systems of campaign finance and lobbying are the only ways this can be fixed. Notice how both Sanders and Paul make this a central point to their campaigns.
>But Hayek said socialism sucks!
Hayek was criticizing highly centralized planned economies, nothing like Social Democracy or the mild mixture of capitalism and socialism that is seen in the countries with the highest standards of living. Hayek also said government intervention in industries is necessary to guarantee competition (hence why libertarians love him). But he (along with Keynes) explicitly acknowledged that it was up to the state to pursue matters of equality and social justice (social justice in terms of healthcare, wealth inequality and such - not SJWs or some shit), because he wasn't dumb enough to think market forces will magically make everything wonderful.
Libertarians are respectable in that they identify the correct problem, but they are misguided in their proposed solutions. The fabled free market is a utopian proposition.
