Comments on: Are free markets always the best? Of course not, and where’d we get that idea? http://blogs.geniocity.com/friedman/2010/01/are-free-markets-always-the-best-of-course-not-and-whered-we-get-that-idea/ The ways law rules creative endeavors and the ways law itself is a creative endeavor Sat, 11 Feb 2012 13:08:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ruling Imagination: Law and Creativity » Blog Archive » Free markets and the end of education as we know it http://blogs.geniocity.com/friedman/2010/01/are-free-markets-always-the-best-of-course-not-and-whered-we-get-that-idea/comment-page-1/#comment-4468 Ruling Imagination: Law and Creativity » Blog Archive » Free markets and the end of education as we know it Tue, 14 Dec 2010 21:04:33 +0000 http://blogs.geniocity.com/friedman/2010/01/are-free-markets-always-the-best-of-course-not-and-whered-we-get-that-idea/#comment-4468 [...] mentioned it before — I have watched through the course of my professional career as free market ideology has [...] [...] mentioned it before — I have watched through the course of my professional career as free market ideology has [...]

]]> By: Ruling Imagination: Law and Creativity » Blog Archive » We know the price of everything and the value of nothing. http://blogs.geniocity.com/friedman/2010/01/are-free-markets-always-the-best-of-course-not-and-whered-we-get-that-idea/comment-page-1/#comment-3178 Ruling Imagination: Law and Creativity » Blog Archive » We know the price of everything and the value of nothing. Tue, 02 Feb 2010 01:34:00 +0000 http://blogs.geniocity.com/friedman/2010/01/are-free-markets-always-the-best-of-course-not-and-whered-we-get-that-idea/#comment-3178 [...] A couple of weeks ago I quoted from Tony Judt’s critique of free market ideology. Raj Patel, in “How Free Market Delusions Destroyed the Economy,” goes into considerable depth about the stupidity of our faith in markets, but this brief point makes clear the wisdom underlying the entire article: There is a discrepancy between the price of something and its value, one that economists cannot fix, because it’s a problem inherent to the very idea of profit-driven prices. This gap is something about which we’ve got an uneasy and uncomfortable intuition. The uncertainty about prices is what makes the MasterCard ads amusing. You know how it goes — green fees: $240; lessons: $50; golf club: $110; having fun: priceless. The deeper joke, though, is this: The price of something doesn’t measure its value at all. Tags: Alan Greenspan, free markets, Law and Economics, Raj Patel, unregulated free markets [...] [...] A couple of weeks ago I quoted from Tony Judt’s critique of free market ideology. Raj Patel, in “How Free Market Delusions Destroyed the Economy,” goes into considerable depth about the stupidity of our faith in markets, but this brief point makes clear the wisdom underlying the entire article: There is a discrepancy between the price of something and its value, one that economists cannot fix, because it’s a problem inherent to the very idea of profit-driven prices. This gap is something about which we’ve got an uneasy and uncomfortable intuition. The uncertainty about prices is what makes the MasterCard ads amusing. You know how it goes — green fees: $240; lessons: $50; golf club: $110; having fun: priceless. The deeper joke, though, is this: The price of something doesn’t measure its value at all. Tags: Alan Greenspan, free markets, Law and Economics, Raj Patel, unregulated free markets [...]

]]> By: Peter http://blogs.geniocity.com/friedman/2010/01/are-free-markets-always-the-best-of-course-not-and-whered-we-get-that-idea/comment-page-1/#comment-3160 Peter Wed, 20 Jan 2010 16:50:28 +0000 http://blogs.geniocity.com/friedman/2010/01/are-free-markets-always-the-best-of-course-not-and-whered-we-get-that-idea/#comment-3160 I at least have to give Posner credit -- it took a financial meltdown, but at least he gets that it was his unqualified adherence to the market as a check on stupid decision-making that helped get us into the meltdown, and oftentimes it is precisely that -- disaster -- that is required to get things corrected. Then again, maybe it hasn't been a big enough disaster yet inasmuch as the only answers the right-wing seems to have to our problems are what got us here: cut taxes, let private enterprise take care of everything, and demonize government. I at least have to give Posner credit — it took a financial meltdown, but at least he gets that it was his unqualified adherence to the market as a check on stupid decision-making that helped get us into the meltdown, and oftentimes it is precisely that — disaster — that is required to get things corrected. Then again, maybe it hasn’t been a big enough disaster yet inasmuch as the only answers the right-wing seems to have to our problems are what got us here: cut taxes, let private enterprise take care of everything, and demonize government.

]]> By: Ruling Imagination: Law and Creativity » Blog Archive » Who needs public services in case of disaster? Not the rich . . . http://blogs.geniocity.com/friedman/2010/01/are-free-markets-always-the-best-of-course-not-and-whered-we-get-that-idea/comment-page-1/#comment-3159 Ruling Imagination: Law and Creativity » Blog Archive » Who needs public services in case of disaster? Not the rich . . . Wed, 20 Jan 2010 13:41:13 +0000 http://blogs.geniocity.com/friedman/2010/01/are-free-markets-always-the-best-of-course-not-and-whered-we-get-that-idea/#comment-3159 [...] market strikes again: worried about help in the event of disaster? Well, with a lot of money, you’ve got nothing [...] [...] market strikes again: worried about help in the event of disaster? Well, with a lot of money, you’ve got nothing [...]

]]> By: Seth http://blogs.geniocity.com/friedman/2010/01/are-free-markets-always-the-best-of-course-not-and-whered-we-get-that-idea/comment-page-1/#comment-3153 Seth Tue, 19 Jan 2010 20:34:44 +0000 http://blogs.geniocity.com/friedman/2010/01/are-free-markets-always-the-best-of-course-not-and-whered-we-get-that-idea/#comment-3153 Also of note when it comes to the discrediting of the Chicago School is Richard Posner's recent conversion from free market guru to out-and-proud Keynesian. (See John Cassidy's piece in the January 11th issue of the New Yorker, unfortunately not online.) Doesn't this sudden change of heart from characters like Posner seem awfully CONVENIENT? Also of note when it comes to the discrediting of the Chicago School is Richard Posner’s recent conversion from free market guru to out-and-proud Keynesian. (See John Cassidy’s piece in the January 11th issue of the New Yorker, unfortunately not online.)

Doesn’t this sudden change of heart from characters like Posner seem awfully CONVENIENT?

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