tag:blogger.com,1999:blog-10698887.post4760009100071301892..comments2023-10-22T18:25:39.688+08:00Comments on The View from Taiwan: Death by ChickenshitMichael Turtonhttp://www.blogger.com/profile/17974403961870976346noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-10698887.post-90279934406462679532013-07-23T22:56:38.559+08:002013-07-23T22:56:38.559+08:00"I suppose one could argue that a free market...<i>"I suppose one could argue that a free market inevitably leads to crony capitalism as the rich buy access to political leaders."</i><br /><br />In that sketch, the "leading" of the free market toward crony capitalism is <i>misleading</i>: corruption is only made possible by the existence - and crucially for the small-government argument you would like to make - the <i>extent</i> of monopolized political power.Mike Faganhttps://www.blogger.com/profile/08745281285031316740noreply@blogger.comtag:blogger.com,1999:blog-10698887.post-45185178075233899752013-07-23T04:42:13.634+08:002013-07-23T04:42:13.634+08:00In the article on "neoliberal" economics...In the article on "neoliberal" economics, it would be helpful if the author were to be more specific about what types of changes would be useful and why.<br /><br />While Taiwan may attempt to have a free market economy, it has to adapt to the reality that it doesn't operate within a free international market. The article mentions the threat China poses to Taiwan, but doesn't mention that much that threat comes from China operating as a political unit rather than as a business. <br /><br />When other countries, China included but others also, act as units in a non-free-market manner, Taiwan cannot expect a pure free market to be able to craft an optimal solution. <br /><br />There are legitimate concerns about free markets, but I find that most of the time when I read criticisms of free markets, the criticisms are actually complaining about problems caused by government (either domestic or foreign) interventions in that market.<br /><br />It would help if people who want government interventions could learn to use some basic principals. "Tragedy of the commons" is pretty much all you need to say to a rational educated person to explain why pollution laws are needed. Yet I almost never see the term used and libertarian arguments are left un-rebutted.Readinnoreply@blogger.comtag:blogger.com,1999:blog-10698887.post-21459588865928665082013-07-23T04:32:49.167+08:002013-07-23T04:32:49.167+08:00You link to an article that seems to be blaiming T...You link to an article that seems to be blaiming Taiwan's economic problems on "neoliberalism" described as "laissez-faire policies".<br /><br />However the same article says "When I entered the business world, what I found was this: Those major corporations that could get a sit-down with the premier passed their days comfortably enough that few were terribly worried about technological upgrades." This indicates that it isn't a free market. In a free market, access to the president wouldn't matter.<br /><br />I suppose one could argue that a free market inevitably leads to crony capitalism as the rich buy access to political leaders. This would be similar to criticism of socialism that it inevitably leads to an oppressive state because of the massive amount of control and information a socialist state requires for implementing its policies.<br /><br />However the charge of cronyism, while a looming danger for free markets is no more a danger for free markets than for any other economic system. Whether you have socialism, mercantilism, capitalism, or whatever, there will be a large incentive toward cronyism despite whatever laws are on the books. Indeed I would argue that cronyism is a bigger danger for socialism because a government with more power is more worth buying than a government with limited power.Readinnoreply@blogger.com