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Date: Sun, 04 Oct 1998 22:58:05 -0700 From: "James A. Donald" <jamesd@echeque.com> Subject: Re: Another question about free-markets...
If this includes lying, denying consumers information, etc. what harm is done, they have fulfilled their responsibility to their shareholders (potentialy quite lucratively)=20
While there is a sucker born every minute, the strategy you describe is for the most part unlikely to be profitable.
Then you should begin to check your daily news, example after example is presented. (currently illegal) cell phone cloning, excessive rate levels, sub-standard construction practices, etc. People by their very nature understand and impliment the prisoners delima maximum pay-off strategy. Not only can it happen it deos. Given that such abuse is possible in a regulated market there is no reason not to deduce it will happen in a free market economy as well. If it happens the business enjoys an increased profit if for no other reason than their costs are reduced. Since there is no regulation or other oversight the consumer will be denied this information preventing fair competition. Since a companies strategic leaders have no duty other than maximizing profit they will impliment such strategies. Hence the free-market reduces to an opportunistic anarchy. This leads to one and only one conclusion, in a free-market there is no such thing as 'fair trade' without a third party being involved. This runs contrary to the definition of a free market on two counts (at least) and therefore the free market theory (as applied to human business, not Vulcan) is a circular argument based on faulty principles and a lack of understanding of human psychology (ie assumptions such as rational purchases). ____________________________________________________________________ The seeker is a finder. Ancient Persian Proverb The Armadillo Group ,::////;::-. James Choate Austin, Tx /:'///// ``::>/|/ ravage@ssz.com www.ssz.com .', |||| `/( e\ 512-451-7087 -====~~mm-'`-```-mm --'- --------------------------------------------------------------------