alt Hacker NewsLarry Ellison is using his bags to purchase lies and silence.
No economy can be in true equilibrium when the consumers send profits to be spent in unforeseen and unrelated ways like this. Every purchase carries potentially immense future costs that are almost completely opaque.
Free market maximalists need to confront this fact before praying at the altar of complete deregulation, and every consumer should pay more attention to who they are buying from.
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Sorry what regulation in particular are you thinking about here? There’s no logical anti-trust angle I can think of.
I mean of course I think the outcome here is bad, but I’m struggling to think of a kind of regulation that could have prevented it that isn’t completely insane.
Edit: Listen everyone, it sucks, but there's no "one weird trick" where you can have a congress, judiciary, and executive branch dominated by Republicans, that then governs like Democrats. This isn't a "regulation" problem. It's a "roughly half the country wanted this" problem. Adding more regulations is not going to suddenly make the FTC act right; we have thousands of regulations already on the books and if they wanted to do something, they could.
What's free market about total state regulatory capture, calling the President when your bids get rejected, or setting up wars and domestic police actions to enrich yourself with contracts using taxpayer funds?
There are legitimate criticisms of a pure free market, but this is "state capitalism" not a free market.
The Trump administration is absolutely not pro free market. They're putting fingers on the scale all over the place, taking Federal positions in private companies, taking literal bribes for regulatory favors, influencing the selection of executives and board members, and using the power of the state to attack privately owned companies for platforming speech they don't like (like this 60 Minutes segment, made by a private company). Trump/MAGA looks a lot more like the CCP than anything else.
Of course if you pay attention to the discourse, MAGA and national conservatism are an explicit repudiation of Reagan/Clinton "neoliberalism" and "libertarian conservatism." They explicitly support a large administrative state that centrally plans the economy and culture, just one they run and use to push right wing and nationalist agendas.
I remember saying back during the Bush years: if the right is forced to choose between liberty and cultural conservatism, they will throw out liberty. The right only supports the freedom to do what they think people should be doing. (Yes, there are similar attitudes in some parts of the left too. There are not many principled defenders of individual liberty.)
Edit: I'm really just arguing that we should call things what they are. Calling MAGA's CCP-like state capitalism a free market is like calling Bernie Sanders or Mamdani communism (they're socialists, not communists, these are not the same) or calling old school conservative republicans fascists. Words mean things.