Tyranny of the Marketplace -- Part I

Tyranny of the Marketplace represents the main body of thinking for Entrepreneurial Socialism. Here, I will argue that appropropriate regulation is the essence of a free market. It's the part that keeps the market free. Conversely, I will argue that an unregulated market is inevitably a manipulated marketplace. Shouldn't be too difficult...

Appropriate regulation could mean requiring corporations to meet certain standards for disclosure, or it could mean preventing the government from creating an undue burden on a class of business, a particular industry or even all businesses. The deciding factor is the appropriateness of the regulation to the end of creating and maintaining a truly free market.

We recognize that "the market" cannot monitor itself without external oversight. Any Republican-type whiner who would like to debate this point will have to explain how they want to eliminate the Federal Reserve.

And don't even come around with that libertarian "We wanna eliminate the Fed" crap. We sacrifice tiny portions of our liberty to connect ourselves together in the face of an aggressive and ignorant world. It's called civilization. You should try it sometime.

So if the market cannot monitor and regulate itself, what is the appropriate mechanism? In a word, Government . Yes, Mr. Kudlow, I said Government. My government exists to protect people like me from people like you.

To be continued