[snapplebobapple]

You are arguing against the technically correct but practically silly answer when I am not making that argument (except for the very specific case of carbon emissions and what you are allowed to output carbon emissions for. CO2 emissions are not a life and death situation any time soon, they cause potential range of harm in the far future on some spectrum of probability with another spectrum of probability for completely mitigating the problem before it causes serious harm through technology and that makes up the bulk of the externality that needs to be priced).

Do we really have to rehash how and why markets work better in 2023? I mean, we spent the last century watching places that adopted freer markets succeed and places that went in the opposite direction failing, we saw communism fail a couple times, we watched communists that embraced markets turn themselves around (although they now look a lot more like facists, which is very concerning), etc. They likely work precisely because so much of humanity is hideously stupid, immoral, incapable, greedy, and useless and free markets allow those that aren't to supply the needs of the rest while building up capital, increasing influence and spreading capability throughout the system. On the other hand authoritarianism might have flashes of excellence but more often than not excellence has dumbass kids or friends that replace him or other factors change and the formerly excellent authoritarian doesn't pivot like the multitude of independent actors in a market can and then that flash is gone and we are back to stagnation for the society organized along authoritarian lines.

Your third paragraph's main flaw is that WE don't know very well in most instances exactly what one should and shouldn't do. YOU think you know that and YOU may be too hideously stupid, immoral, incapable, greedy and/or useless to know when YOU are wrong. With a market solution you can be all of those things and it's usually self regulating because you lose your ability to influence anything by blowing your resources on stupid, while people that get it right end up with more resources to bet on their predictions in the future.

[thfuran]

>Do we really have to rehash how and why markets work better in 2023? I mean, we spent the last century watching places that adopted freer markets succeed and places that went in the opposite direction failing

No, we spent the last century watching the utter depravity of free market capitalism be reigned in by regulations. Free markets don't maximize public welfare, they maximize profit for successful marketers.

[snapplebobapple]

Your comment is the equivalent of looking at the cherry on top and drawing conclusions about the palatability of the ice cream sundae while ignoring that the rest of it is being eaten by maggots.

Also maximizing profit for successful individuals in the market is equal to maximizing public welfare IF regulation is successfully mitigating market power and externalities, which is exactly what I have been arguing for here. Everybody knows the outcome of a totally free market is monopoly and there is a role for government in breaking up/regulating those potential monopolies to mitigate their market power as well as in spots where there are natural externalities that need to be priced in. That I seem to have to recap all of this before making an argument that a specific regulation is incorrect is a bit concerning, as the above is basically settled in economics and the current argument is what should be regulated and how (which is the discussion we are having here regarding a national speed limit on flying and how it is incorrect to argue who changing the law will benefit regarding carbon output when we can just tax the carbon at the amount that most likely covers the externality and not have to make those judgement calls (and risk getting them wrong as we often do).)

[michaelmrose]

Free markets are excellent in picking which shoe store ought to succeed and how many are needed in town. Setting by regulation a list of thou shalt and thou shalt not for various industries isn't communism nor authoritarianism its a normal function of government. The fact that you can't tell the difference virtually disqualifies you from further discussion. Nothing incidentally is self regulating.