Comment by zrn900
2 years ago
> When markets are allowed to work "normally", this is what always happens: regulations are lobbied to the ground, resources get depleted, profitable companies get destroyed to make a quick buck and everyone is worse off in the long term.
Yes, there was a time during industrial revolution when laissez faire was experimented with in a region of England. It ended up in a total hellhole apparently. Also it looks like it was tried in Norway to a lesser degree and it ended up in another hell:
https://www.quora.com/What-would-happen-if-the-Nordic-countr...
I would love to see an experiment where the only type of regulation allowed was to price unpriced externalities.