Longtime Houston attorney Tom Kirkendall's observations on developments in law, business, medicine, culture, sports, and other matters of general interest to the Houston business, professional, and academic communities.
it’s great to have a “credible” source that is in favor of libertarianism and free markets. Too many people are influenced by Keynesian and Big Government propaganda taught at schools across the country.
“it’s great to have a “credible” source that is in favor of libertarianism and free markets.”
Wouldn’t that lead to more Enrons and wrongs
that can only be addressed thru costly litigation?
Seems like reasonable regulations which deter
wrongdoing is better and less costly to society
than having to resort to lawsuits for (mostly)
preventable illegal activities that greed would
drive too many businesses into engaging in if
we instituted a “wild west” market system.
@ Bill,
“Wouldn’t that lead to more Enrons and wrongs that can only be addressed thru costly litigation?”
Absolutely not. Enron couldn’t get away with what it did had it not been for interference and Government allowing it to not adhere to accounting rules as per the free market. Enron lobbied Government to change accounting rules AWAY from free market which would go by mark-to-market. Just as we didn’t have the Real Estate and Credit Bubble as a result of free market economics. It was Government and Fed interference that distorted supply and demand variables. In fact, this recent stock market rally was brought to us by more Government and Fed interference. Fundamentally nothing has improved for the economy. It started with an accounting change in March 2009…the same change that allowed Enron to legally cook its book allowed banks to mark their assets up to bubble values. That’s why banks reported record earnings in 1Q of 2009…nobody can seriously believe that banks on the brink of insolvency turn to record profits just a few months later, or do people seriously believe that?
“Seems like reasonable regulations which deter wrongdoing is better and less costly to society
than having to resort to lawsuits for (mostly) preventable illegal activities that greed would
drive too many businesses into engaging in if we instituted a “wild west” market system.”
I respectfully disagree. All economic problem we have today can be directly attributed to interference in the market place. It wasn’t a free market system that created those problems, it was market interference. The beauty of a free market system is that malinvestment and financial irresponsibility have consequences. Your suggestion of regulation assumes that regulation is there for the benefit of the consumer. Regulation and laws aren’t put in place for the better good of humanity, they are put in place by the corporations that lobby for such laws to eliminate competition and get tax breaks, free loans, bailouts, and other financial perks. If one were to leave the market alone it would self-regulate and we would be multiples better off.
We have a fundamental disagreement. I suspect you
can also make a plausible sounding argument for
why we shouldn’t have regulations regarding
clean air and water, laws requiring truthful statements on loan applications etc.
Libertarian ideals, yes. Libertarian government,
no, no. Too much greed and dishonesty in human
nature. Gotta have reasonable regulations. Maybe in a small country homogeneous population,
but not in a large country like ours.
“We have a fundamental disagreement. I suspect you
can also make a plausible sounding argument for
why we shouldn’t have regulations regarding
clean air and water, laws requiring truthful statements on loan applications etc.”
Actually, in regards to loan applications. I don’t think anybody should interfere in business. Government should not guarantee loans and the Fed should not manipulate rates. If you and I agree on the terms of the loans and I lend you MY money so be it, no reason to regulate. If I’m too stupid I deserve to go out of business. Simple as that. The free market would beautifully self regulate but we don’t have a free market as the Fed manipulates rates to distort demand and supply while the Government does the same with its big government policies.
In regards to air, water, etc. it’s all about private property rights and if I create waste that affects my neighbors properties then it must be dealt with, but it’s not a regulatory but a private property rights issue.
“Maybe in a small country homogeneous population,
but not in a large country like ours.”
I’d argue that because of `the current Federal Government nothing works. More power to the local governments so that change can actually happen. I agree, the bigger you make the government the worse it gets and that’s why it’s counterproductive to have the Federal Government in charge of everything. The Fed even overturns State laws..pathetic!
I agree with many libertarian ideas and Mr. Miron
expresses them well.
I also believe in motherhood, the flag, wide highways, and nickel beer.
it’s great to have a “credible” source that is in favor of libertarianism and free markets. Too many people are influenced by Keynesian and Big Government propaganda taught at schools across the country.
“it’s great to have a “credible” source that is in favor of libertarianism and free markets.”
Wouldn’t that lead to more Enrons and wrongs
that can only be addressed thru costly litigation?
Seems like reasonable regulations which deter
wrongdoing is better and less costly to society
than having to resort to lawsuits for (mostly)
preventable illegal activities that greed would
drive too many businesses into engaging in if
we instituted a “wild west” market system.
@ Bill,
“Wouldn’t that lead to more Enrons and wrongs that can only be addressed thru costly litigation?”
Absolutely not. Enron couldn’t get away with what it did had it not been for interference and Government allowing it to not adhere to accounting rules as per the free market. Enron lobbied Government to change accounting rules AWAY from free market which would go by mark-to-market. Just as we didn’t have the Real Estate and Credit Bubble as a result of free market economics. It was Government and Fed interference that distorted supply and demand variables. In fact, this recent stock market rally was brought to us by more Government and Fed interference. Fundamentally nothing has improved for the economy. It started with an accounting change in March 2009…the same change that allowed Enron to legally cook its book allowed banks to mark their assets up to bubble values. That’s why banks reported record earnings in 1Q of 2009…nobody can seriously believe that banks on the brink of insolvency turn to record profits just a few months later, or do people seriously believe that?
“Seems like reasonable regulations which deter wrongdoing is better and less costly to society
than having to resort to lawsuits for (mostly) preventable illegal activities that greed would
drive too many businesses into engaging in if we instituted a “wild west” market system.”
I respectfully disagree. All economic problem we have today can be directly attributed to interference in the market place. It wasn’t a free market system that created those problems, it was market interference. The beauty of a free market system is that malinvestment and financial irresponsibility have consequences. Your suggestion of regulation assumes that regulation is there for the benefit of the consumer. Regulation and laws aren’t put in place for the better good of humanity, they are put in place by the corporations that lobby for such laws to eliminate competition and get tax breaks, free loans, bailouts, and other financial perks. If one were to leave the market alone it would self-regulate and we would be multiples better off.
We have a fundamental disagreement. I suspect you
can also make a plausible sounding argument for
why we shouldn’t have regulations regarding
clean air and water, laws requiring truthful statements on loan applications etc.
Libertarian ideals, yes. Libertarian government,
no, no. Too much greed and dishonesty in human
nature. Gotta have reasonable regulations. Maybe in a small country homogeneous population,
but not in a large country like ours.
“We have a fundamental disagreement. I suspect you
can also make a plausible sounding argument for
why we shouldn’t have regulations regarding
clean air and water, laws requiring truthful statements on loan applications etc.”
Actually, in regards to loan applications. I don’t think anybody should interfere in business. Government should not guarantee loans and the Fed should not manipulate rates. If you and I agree on the terms of the loans and I lend you MY money so be it, no reason to regulate. If I’m too stupid I deserve to go out of business. Simple as that. The free market would beautifully self regulate but we don’t have a free market as the Fed manipulates rates to distort demand and supply while the Government does the same with its big government policies.
In regards to air, water, etc. it’s all about private property rights and if I create waste that affects my neighbors properties then it must be dealt with, but it’s not a regulatory but a private property rights issue.
“Maybe in a small country homogeneous population,
but not in a large country like ours.”
I’d argue that because of `the current Federal Government nothing works. More power to the local governments so that change can actually happen. I agree, the bigger you make the government the worse it gets and that’s why it’s counterproductive to have the Federal Government in charge of everything. The Fed even overturns State laws..pathetic!