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by snackbugs
2774 days ago
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>For everyone. Efficient markets raise per capita productivity, which raises quality of life for the vast majority of the population. The majority of the US can't financially bear an emergency $1000 expense without going into debt, joblessness, or homelessness. Productivity isn't connected positively individual quality of life, otherwise this wouldn't be the case. A free market depends on an entire class of people maintained in poverty. That is not efficient except for a minor plurality. As I said in your parent comment, the base assumptions that markets efficiently distribute resources is a lie. |
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The number of hospital administrators increased 3,200% between 1975 and 2010, compared to a 150% increase in physicians, and this increasing inefficiency is due to an increasing number of regulations:
https://www.athenahealth.com/insight/expert-forum-rise-and-r...
>>Productivity isn't connected positively individual quality of life, otherwise this wouldn't be the case.
Quality of life is vastly better in high-productivity countries than low-productivity ones. Only someone who has been totally sheltered from the extreme poverty characteristic of many countries of the world could even make a comment as detached from reality as yours.
>>A free market depends on an entire class of people maintained in poverty. That is not efficient except for a minor plurality.
That's demonstrably false. The global poverty rate has been decreasing at the fastest in history over the last 30 years, concurrent with the spread of marker institutions. The rate of extreme poverty has halved in the last 20 years.