Ask yourself - in an unregulated, unsupervised, and completely unaccountable environment, why would anyone NOT do this?
The entire idea of markets is that participants and actors are constantly competing for the bigger share of the pie and/or creating bigger portions then fighting over the slices. Either way, it's all a competition.
COMPETITION.
He just played and won the game according to the rules of the market - that is, no rules at all. Aside from anyone's idea of 'honest trading' which frankly without agreed and standardized regulation, it just an individual preference.
Enforcement, mutual social agreement call law and regulations are inevitable basic flow of human nature. Question is how you handle it, not whether you can do without it. Same as everything else people normally consider 'oppressed' by.
Totally agreed. I know regulation these days is a tool which serves the wealthy but it wasn't always that way. I am all for regulation as long as its by the people, for the people, enforced by the people. Just I can't see that happening again.
In fact after getting into Liberalism for just a little while I was against regulation and had a debate with my father on the issue. He actually made me change my mind. The wealth gap would be 10x larger if it wasn't for some kind of regulation and moderate tax policies. You can see this in the period 1800-1910 through out Europe where 1% owned 60%/70% of the nations wealth. Progressive polices developed between 1910 and 1960s put an end to such wealth disparity (+2 world wars and the great depression) and for the better I would argue. We would have no middle class today if it wasn't for this fundamental shift in national policies observed throughout the west.
It actually makes my blood boil when citizens from less privileged backgrounds argue that somehow letting fat cats do whatever the hell they want is going to be for the betterment of society. The sad fact is that policy makers have been making a u-turn since the 70's and 80's for the benefit of a select few (similar to policies adopted throughout the 19th century) and since we have seen a trend reversal in wealth disparity.
You can literally guarantee that, without a change of course, the 21st century is going to give rise to the importance of inheritance for wealth once again.
this is my real post :
