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  1. 12-20-2017 05:41 PM #1
    wufwugy
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    Quote Originally Posted by Jack Sawyer View Post
    Because it always ends up at or near crony capitalism. Where the know-betters just keep raising prices of stuff that people need to literally live
    Crony capitalism is when business and government buddy up.

    I'm not sure what you're calling crony capitalism. Free market capitalism and crony capitalism are opposites.
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  2. 12-20-2017 05:49 PM #2
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    Jack Sawyer
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    Quote Originally Posted by wufwugy View Post
    Crony capitalism is when business and government buddy up.

    I'm not sure what you're calling crony capitalism. Free market capitalism and crony capitalism are opposites.
    Ok wuf, explain to me 2 things please.

    1) How will a fully free market avoid going in the crony capitalism phase? As a firm gets big enough, it can just buy its competition and raise prices as it sees fit, correct? In a free market, how will this not happen?


    2) How would a fully free market avoid the Daraprim situation?

    I have more, but these two will suffice for now. I'm off to watch star wars, so I'll probably be drunk AF tonight to continue discussing
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  3. 12-20-2017 06:06 PM #3
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    Quote Originally Posted by Jack Sawyer View Post
    1) How will a fully free market avoid going in the crony capitalism phase? As a firm gets big enough, it can just buy its competition and raise prices as it sees fit, correct? In a free market, how will this not happen?
    These are two completely different issues. This is not an example of crony capitalism.
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  4. 12-20-2017 06:07 PM #4
    wufwugy
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    Quote Originally Posted by Jack Sawyer View Post
    Ok wuf, explain to me 2 things please.

    1) How will a fully free market avoid going in the crony capitalism phase?
    That would probably require enough people discarding the anti-market bias so that they don't encourage intrusive government.

    As a firm gets big enough, it can just buy its competition and raise prices as it sees fit, correct?
    No, firms can't do that. We can discuss why that is if you would like.


    2) How would a fully free market avoid the Daraprim situation?
    This situation is a good sign that the market is working to make things better. Here's an economist explaining why price gouging improves lives while not allowing price gouging harms lives.

    http://econlog.econlib.org/archives/..._on_price.html

    I can go a bit more into it than he does in this brief article if you would like.
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  5. 07-01-2018 11:22 AM #5
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    Quote Originally Posted by wufwugy View Post
    No, firms can't do that. We can discuss why that is if you would like.
    I wonder what it is Amazon's doing right now
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