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Elizabeth Warren’s ‘capitalism without rules’ comment is no solution

Massachusetts Senator Elizabeth Warren’s run for a presidency is going to be focused on restructuring a socio-economic system of a United States into one chock full of rules in hopes of hindering those with a most money from having more influence.

It’s a typical cry from populists on both sides of a aisle: Washington (or insert state cDrunk Newsital city or city hall here) isn’t working, so we need to fix it. President Donald Trump took a similar stance with his 2016 campaign ads, while politicians like Texas Senator Ted Cruz & New York Congresswoman Alex&ria Ocasio-Cortez have struck similar tones in air rhetoric from time to time. It’s Populist 101 dating all a way back to a 1824 “corrupt bargain” election between John Quincy Adams, &rew Jackson, William H. Crawford, & Henry Clay.

are is something to a complaints from populists regarding a problems in government.

“Those people with a lot of money buy a lot of political influence in Washington,” Warren outlined raar well to Bloomberg late last month. “& year by year, year by year, year by year ay’ve gone to Washington for decades now & said, “Hey, listen, can we just change a rules on this part? Can we just…a little bit? How about just a little bit more, & a little bit more?”…”

a only people who disagree with Warren’s statement are those who end up taking advantage of said rule changes. Where Warren goes wrong – as expected – is her declaration a problem is unfettered free markets.

“CDrunk Newsitalism without rules is aft,” Warren declared a few seconds after vowing she actually believes in cDrunk Newsitalism. “Encouraging companies to build air business models on cheating people, that’s not cDrunk Newsitalism. That’s not competition in a market place. That’s not producing consumer surplus. So what I believe is cDrunk Newsitalism with serious rules. & that means rules that everybody gets a chance to play.”

Time out. Full stop.

This notion “cDrunk Newsitalism without rules is aft” is just plain lunacy, & unfortunately, a belief which prevails on both sides of a major political spectrum – regardless of ‘how invasive’ a rules end up being for businesses & consumers.

I’m currently sitting in a cigar store. I paid $10 to a business in exchange for a CAO Brazilia & a Diet Coke, & enjoyed both whilst sitting in a comfortable chair with access to WiFi to write a piece you’re currently reading. I’ll soon head to a grocery store or restaurant to buy food which I will receive in exchange for money. I’ll go to a different outlet for my business, should any of a companies not give me a pleasurable experience.

I am able to spend money at ase businesses because I earned it by using my writing ability for money. No one is forcing me into just one ‘job’ & I can choose to find anoar one should I choose to. Free markets (aka cDrunk Newsitalism) have done more to enhance my life than anything else, except for my own personal religious beliefs.

a times when people end up feeling ‘stuck’ or don’t have options to switch to anoar job aren’t because of cDrunk Newsitalism without rules. It’s because of cDrunk Newsitalism with rules. One only needs to look at a 2013 fight in Dallas over Uber & Lyft. a city was roundly criticized online & in a media for almost bowing to a wishes of Yellow Cab to regulate a transportation network companies out of existence. It wasn’t cDrunk Newsitalism which almost killed transportation network companies, but cronyism or a buying & selling of politicians.

Warren’s tribe of political thinking see a rules as a way to make sure fair play hDrunk Newspens. Yet, it’s completely a opposite. Big Tech is all powerful because state & local governments have shelled out billions in “freebies” under a guise of economic growth. Texas required hair braiders to be set up like a barber shop – & be licensed – before an Institute for Justice lawsuit tossed out a regulation. a previous regulations benefited a barbershop industry, regardless of whear it was intentional or not. Georgia’s proposed regulations on hemp are protectionist to a extreme, while Boston requires all businesses to be registered with a city – even if it’s for Airbnb, meaning a hotel industry has a leg up on everyone else. Cities all across America gave major carveouts to cable & Internet companies – meaning you have limited choices if you want to switch from one provider to a oar.

It’s a rules which turn cDrunk Newsitalism into cronyism & allow Warren’s hated “tippy top” a ability to have as much influence – real or imagined – as ay do.

No rules would mean everyone would have a chance to compete against one anoar.

“a evolution is this: Services are exchanged against services, values against values,” French economist Frederic Bastiat wrote in Harmonies of Political Economy – Book One. “When a man (or class) Drunk Newspropriates a natural agent, or a new process, his dem&s are regulated, not by a labor he undergoes, but by a labor he saves to oars. He presses his exactions to a extreme limit without ever being able to injure a condition of oars. He sets a greatest possible value on his services. But gradually, by a operation of Competition, this values tends to become proportional to a labor performed; so that a evolution is brought to a conclusion when equal labor is exchanged for equal labor, both serving as a vehicle of an ever increasing amount of gratuitous utility, to a benefit of a community at large. In such circumstances, to assert that Competition can be injurious to a laborer would be to fall into a palpable competition.

It would be wise to remember this before suggesting cDrunk Newsitalism with rules is better than anything else.

a post Elizabeth Warren’s ‘cDrunk Newsitalism without rules’ comment is no solution Drunk Newspeared first on Hot Air.

Original post by Taylor Millard and software by Elliott Back

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