Re: A funny state of the economy
Vince, how so you see anarchy and chaos as not synonymous ... especially in a world with 6 billion+ people? I can't see it ... it sounds theoretical to me.
I don't know about you but life in Sydney is not violent, at least not in my circles. The state (in western countries) is less violent than any in history. They certainly could be more sensible, agreed. The war on drugs and incursions into people's private lives generally are counter-productive and unethical, but I think if we chip away at these issues (and the bloody Tea Party doesn't get in) perhaps we can achieve sane policy ... (that applies to the Tea Party's OS equivalents too). Guess you're talking revolution and I'm talking evolution.
Thing is about multinationals, do you think that without state support they would fold? I don't. I suggest that they have the power to be more resilient without state support than smaller, less powerful organisations. The ethics and rules of the free market are no different to any other area of life - might is right.
The less the state is involved as a regulator, the bigger the advantage of economies of scale in the market. You would have a rash of monopolies and cartels. Unchecked, the market will have a constant cycle of bubbles and crashes. Unchecked, the strong in the market would annihilate the smaller players (more so than they are doing now with weak regulation) ... in the same way as the physically strong will prey on the weak without laws to temper people's behaviour.
I feel like you are speculating as to what would have happened if we'd had free market instead of capitalism - and the world didn't have a history of monarchies, dictatorships and feudal societies. Thing is, look at where we are now and imagine what would happen if you stripped the safeguards away. I think the biggest problem is what's always been the problem - the powerful exploit the less powerful. This happens in any system, but states are supposed to temper this tendency to make for more stable society.
One thing that peeves me is everyone seems to be up in arms now that Obama is in. Where were they when Bush was growing the public service at record levels and bankrupting the country with bad policy and military adventurism? It seems that the current US govt is copping a lot of blame for the previous administration's mistakes and in failing to solve wicked problems (which of course, have no painless solution).
I blame Murdoch, who seems to be in love with the Tea Party.