http://www.utrend.tv/v/9-out-of-10-americans-are-completely-wrong-about-this-mind-blowing-fact/ I am sure this goes for other Western countries as well. Socialism doesn't seem so bad now, does it?
Free markets do some things quite well. I respect the power of markets, both the power markets to do good and to do harm. A fundamental problem is that markets respond to incentives rather than creating them. Fundamentally, actors in a free market system operate under a principle of self-maximization. If the path to self-maximization involves harming others, and even one's own long-term self-interests, that's where the market goes.
And this is why you don't understand the potential of free markets. Deregulated markets, in and of themselves, create incentives. And those markets can be held accountable by the people. Who is going to hold the gov't accountable under socialism? Who holds the gov't accountable in our current system?
I would say that they fundamentally respond to incentives rather than creating them. For example, an employer, seeking wealth, may give more pay to an employee in order to retain top talent. I would call this a chain reaction of response to incentive rather than the creation of incentives. The unregulated market will do things that are harmful, so long as there is profit to be made in doing harmful things. The markets are accountable to the people only to the extent that they can "vote with their feet". That's a valuable method of regulation, to some extent, but consumers are also simply responding to incentives. McDonalds makes their crap burgers and fries that make people fat and gives them diabetes, cancer, and heart disease because it makes money. People buy that shit because they either don't know how bad it is for them, or they are just thinking about short-term lure of cheap food. That's a free market system at work, and it leads to disastrous results. I don't defend either socialism or our current system.
You can't call this system of subsidies and censorship free market by any means. Just because mcdonalds isn't illegal or regulated (from a health stance) does not make fast food a free market, you are not including the many confounding variables that exist, and will continue to exist until there is fundamental change unlike any of us know. I don't think corporations are inherently bad, but our gov't is controlled by corporations through financial transfers. Just think about this - with the system I'm talking about, the exchange of information would be far more fluid and would lead to a more informed and conscious populace. I'm not just talking about business in its most direct form.
Yes, you're right. It's hard to find real-world examples that don't have some level of complexity to them. Even if you consider an example where subsidized corn is taken out of the equation though, an unregulated free market mcdonalds would operate pretty much the same way. They'd use less corn, but they would still probably sell the cheapest food to manufacture at the highest price, and not give a damn about the consequences for consumers. I don't think that they are inherently bad either. But I do think that corporations have an inherent tendency to pursue self-interest regardless of the consequences for the rest of society. A corporation that pursues self-interest above all is the one that is most likely to survive, therefor over time, corporations have an inherent tendency to act selfishly. Yes. I just don't believe that an unregulated free market would produce the outcomes that you describe.
And at the same time, competition would increase and consumers could demand more value and quality for their money through deciding where to spend their money. A great example, as close as I can think of, is where I live. Food trucks, tons of local restaurants who contribute to the community and offer value for the money. As I type this, there is a vacant wendy's, a vacant burger king, a vacant taco bell, and a vacant kfc over less than a 3 mile stretch of the beach. There is no wal mart out here because we picketed relentlessly, which was going against a huge corporation and the city council. There is no paid parking because it will harm local business, once again a victory of the people over local gov't. I think you aren't putting enough faith in the consumers and too much in the gov't to save us from the big businesses who don't give a damn about us. Or if not to save us, to control or limit our decisions. You are right, the basic principle of any business is to maximize sales/profits and minimize cost. So since that is the basic operating principle of every corporation, that doesn't tell me it is the most likely to survive. Maybe in an economically repressed area (from a result of gov't intervention typically), but that is because people have a lack of choice and a lack of controlling their own fate. If you don't believe in the outcomes I describe, cool that's your opinion. What is your answer to it all?
So instead of the masses being slaves to the rich, lets just make everybody a slave to the government...yeah it still sounds bad. Anyway slavery has been and always will be a part of the human existence one way or another.