Comment by paulryanrogers
3 hours ago
Unregulated market dynamics also gave us child labor, slave trade, 12h work days, company scrip, companies ruling over governments, etc. A powerful engine without constraints is out of control.
3 hours ago
Unregulated market dynamics also gave us child labor, slave trade, 12h work days, company scrip, companies ruling over governments, etc. A powerful engine without constraints is out of control.
England imposed the institution of slavery on the American colonies by means of their regulation of economic affairs. It didn't occur spontaneously from market dynamics, but was specifically provided for by (their) laws.
I think you're missing the forest for the trees. The slave trade existed as an institution for economic reasons, and for thousands of years before England was a nation. If it were unprofitable then people would've stopped doing it, regardless of how it started.
It wasn't just some government flex.
You also haven't addressed any of the other negatives that unregulated market dynamics have manifested.