Why would a completely privatized market fail?

I personally think public opinion would become the new regulatory force. Not to mention people suing the companies using short cuts that harm health. Then we have an issue of monopolies be a lot harder to start businesses and heightened prices

So yes a completely privatized would succeed.

Why do we have these regulations in the first place? Would the US ( or the world) be a better place if we had regulation from the 19th century?

Corporations are there to make money. Bottom line. If that mean more mercury in your food because it was easier to dump it than to dispose of it properly then so be it. Don't worry the public won't find out because the big companies can just pay off or buy the media.

Another example, why should there be a regulation on how much pollutant I pour into a river? Is there a common thought that corporations are evil and will always find shortcuts that may jeopardize your safety? Don't all these regulations hinder businesses from performing the way they want to perform? Does the government have a right to say, "you don't know what you're doing so we made these laws so that we can protect everyone? Why wouldn't a business do that on their own? My belief is that, yes, a private market would eventually fix all problems and we do not need knee-jerk responses to accidents.ZumaJones07

Sure, that could work

.. if externalities, public goods, or monopolies never occurred.

unrestrained greed.

considering the heights of power, and influence companies can have on a country. A company failing can be catastrophic it in more ways then just simply shareholders.

I mean a lot of companies have more profit then some countries have in their treasuries.

unrestrained greed combined with scale changes thing.

Cause the government is needed for certain things like building codes and creating laws against products that can hurt people....

Cause the government is needed for certain things like building codes and creating laws against products that can hurt people....

CaveJohnson1

The less regulation is generally better. You have to draw the line when companies put lead in their toothpaste (I'm looking at you China) - but otherwise most of the regulations and rules are just hindrances to the economy.

it's better to have rules and regulations to follow for the common good.brandontwb

[QUOTE="brandontwb"]it's better to have rules and regulations to follow for the common good.ZumaJones07

Companies would just regulate themselves.

[spoiler] No [/spoiler]

The market is not as free as people would like. There are often barriers to entry for many companies and products. Plus, consumer health and safety need to be regulated. We can not rely on the altruism of corporations to safeguard people's safety.

Sure, that could work

.. if externalities, public goods, or monopolies never occurred.

cybrcatter

Another example, why should there be a regulation on how much pollutant I poor into a river?

topiccreator

why should one person, or business by allowed to contiminate water supplies? They aren't the only people who use water.

business regulations have merit behind them and aren't being imposed on business owners in an attempt to annoy the business owners

Everyone go watch Food Inc. And that documentary is WITH government regulation. Imagine how it would be without any regulation?

Because not everything can be run for profit. If you doubt this, imagine a world without the police, fire department, libraries, interstate highway system, etc. etc. .

Because not everything can be run for profit. If you doubt this, imagine a world without the police, fire department, libraries, interstate highway system, etc. etc. .

donalbane

Because not everything can be run for profit. If you doubt this, imagine a world without the police, fire department, libraries, interstate highway system, etc. etc. .

[QUOTE="donalbane"]

Because not everything can be run for profit. If you doubt this, imagine a world without the police, fire department, libraries, interstate highway system, etc. etc. .

xaos

Hey. It happened.

Hey. It happened.

BrianB0422

I'm struggling for a good way to articulate the dramatic irony of the fact that so many people online are using a medium developed by a government agency for non-commercial purposes to express their dissatisfaction with government agencies, and how market forces could totally fill any gaps left by public services.xaos

We can never really know, because government is so far into every aspect of business and personal life that the chance to actually see if it would work is long past.

[QUOTE="xaos"][QUOTE="donalbane"]

Because not everything can be run for profit. If you doubt this, imagine a world without the police, fire department, libraries, interstate highway system, etc. etc. .

BrianB0422

Hey. It happened.

No we should privatize fire fighting!xaos

Hey. It happened.

libraries

donalbane

Im guessing it would end up being like the businesses in the early 20th century USA, it would suck hard for anyone who was not rich.

[QUOTE="BrianB0422"] I hope your house catches on fire and you forgot to pay your "fee". Disgusting...markop2003

I firmly believe that the less government is involved with something, the more efficient it becomes.savebattery

[QUOTE="savebattery"]I firmly believe that the less government is involved with something, the more efficient it becomes.bbkkristian

[QUOTE="bbkkristian"][QUOTE="savebattery"]I firmly believe that the less government is involved with something, the more efficient it becomes.cybrcatter

[QUOTE="BrianB0422"] I hope your house catches on fire and you forgot to pay your "fee". Disgusting...markop2003

[QUOTE="cybrcatter"][QUOTE="bbkkristian"] I second this statement.xaos

Succeed. Less government the better.KC_Hokie

I usually understand where conservatives are coming from, even if I don't agree, but this kind of thinking is deluded at best.

In theory all markets are self correcting.

The problem with theory is that it leaps to the end conclusion and omits everything in-between.

Hooray for markets self correcting in the long term.

Double hooray for the unbelievable pain and suffering that society has to go through before the corrections occur.

I am sure you will feel comforted that when your family dies from lack of environmental regulation you will at least be proud that they will be part of the dead poster children that eventually leads to market self correction.

I'd also like to see you pay 80% of your wages to the electricity company. But don't worry, when someone builds a new powerplant in the next couple of years you will eventually have lights and whatnot again.