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Showing results for tags 'regulations'.
Schools If I understand laissez-faire capitalism correctly, under such a government there would not be public schools. By this, I don’t simply mean no public schools and simply vouchers, but that there would be no government funding of education period, federal, state, or local. My concern lies with the fact that under such a system, the poor would likely not have access to education, ruining the “American Dream” for these individuals. Can any of you address this concern? Roads If roads were privatized, wouldn’t there be a lot of suing the road owner since it was “unsafe”, just as Friedman claims the government is doing today? If this is the case, it wouldn’t be a worthwhile investment and thus we would have no roads. Also, I have a question on this quote: "In Austrian theory, the rapidly expanding money stock artificially lowers interest rates, signaling businesses to invest more in longer-term and more capital-intensive projects."I understand the first part, but why do lower interest rates cause businesses to invest in the longer term and more capital-intensive projects?“Definition Regulations” I feel that at times it is necessary for the government to intervene and establish what I like to call “definition regulations”. These are regulations that make suppliers of food meet certain requirements to call something by a certain name. The most prevalent example of this would be meats: without the government, how would a shopper discriminate between a porterhouse and another piece of meat? Shouldn’t a supplier of food have to have a certain amount ratio of beef-to-fat for something to be considered ground beef? Business Information Would businesses have to release certain information under a laissez-faire society? For example, if Google is tracking what I’m searching to supply me with certain advertisements, don’t I have the right to know? Would businesses have to show records of how much, say, mercury they are putting in water that leads to other people’s housing? Courts This leads me to my next point. Under a laissez-faire government, individuals claiming property damage or food poisoning would have to file a suit in the court of law. Why is this preferable to safety regulations? Licenses Under a laissez-faire government, roads would be privatized and the road owners could require drivers to be approved by a private safety agency. 1: Would individuals be able to sue the road owner if he failed to require this? 2: Could the government require road owners do this proactively while still maintaining its "Laissez-faire government" tag? 3: How would this apply to the air? Would I have to be licensed to get in a plane, or are we privatizing the air too? Who would require that I get a license if I were flying?