What level of extreme living expense can its metro areas withstand
California is the unfreest economy in US, unfreest quartile
The freest markets do the best
@wahx @Deleted User @Chadwick
Capitalism does not have patents, it is inherently free market
Nor does it have subsidies or regulations
that's cool
You should learn the basic principles of the market economy before you rant like this
I would never advocate against competition
Market economies are not capitalist
it is not a naturally occuring thing
Inherently
what
Free market economies are capitalist
A market economy could be venezeula
That is not capitalist
Or Cuba
Those countries are clearly not capitalist
you are on some next level
he's just saying that pure capitalism has no regulation, which might be true but is a functionally unhelpful point
it is not true
Ok let’s talk about how it would function
well, his definition of capitalism is that
monopolies doesn’t exist in a. Capitalist system
he considers patent law and contract enforcement to be harmful regulation
yes, he's an idiot
The state intervention creates monopolies
yes
Yes patents create monopolies
they do
they are supposed to
Just look at the drug market
Well that’s not good
it hurts the consumer
And it’s inefficient
patent law needs reforming, especially in the pharmaceutical world
patent law is supposed to reward innovation with temporary monopoly power
Patents should be abolished
it is outdated but not conceptually bad
That’s crony capitalism which is bad
