alt Hacker News> Actually many forms of government mandate and authority are generated by marketplace mechanisms, many of which are actually more true to desirable marketplace dynamics than those we see in private marketplaces, due to concentration of power, which is a known failure mode of marketplaces in general.
Isn't government the highest concentration of power? They, typically, hold a monopoly on taking money with the threat of violence. Seems ripe for market failure.
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Yes. But that’s why we created checks and balances between branches and across local state and federal. And have a balance of direct democracy and representative republic institutions. That’s why the rule of law matters.
And just like you can have a good form of government or a bad form of government you can have a good form of market capitalism and a bad form. A monopoly is not market capitalism, it’s the equivalent of a monarchy. Say what you will but even the UK has checks and balances on the monarchy.
Just copy/paste my first comment back here