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by Tondoteottotote on September 23rd, 2009

Tondoteottotote

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What does an efficient government do to ensure fair markets (importance of property rights)?

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  • by Pete on September 23rd, 2009

    Pete

    That's a great question that no economist -right, left, or center - seems able to answer. My own take is the government should have enforceable rules and regulations to prevent financial monopolies and oligopolies from rigging the marketplace so a few investors can make obscene profits at the expense of the public (i.e. 2008 meltdown). Personally, I don't think the government should bail out the financial institutions that created the problems. If they are allowed to fail, we might eventually see a more honest and efficient marketplace. Unfortunately, because of the enormous power elites that control the financial world and both political parties, the government does not want or cannot adopt rules to make a more efficient system that levels the playing field for everyone.

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