[TheForge] Peter Schiffer obituary OT

[Justin Fisher]

A Vida wrote:

    Consumer at fault... to a degree, yes. Artificial labor arbitrage due
    to trading with non-free economies such as China are a far bigger
    culprit. Free market economies only work if in fact the markets are
    free. ALL free. As far as I can tell, none are. Not a one. We're the
    closest thing to it and we're not there by a fair shot. Those who say
    "see! free market capitalism doesn't work!" are numbskulls who don't
    know the first thing about the topic.

If no markets are truly free (no argument from me on that), then how would we know that they would work if a truly free market existed?
It seems like it is more an article of faith than a provable fact.

I don't see any evidence that the free-wheeling years on Wall Street (which looked a lot like capitalism to me) worked out very well.  The companies would be bankrupt except for taxpayer bailouts, the financial system is pretty well shut down thanks to these financial geniuses.  Mainly because they had the system rigged for their benefit.

This is why honest labor with real materials yielding a quality product is a hell of a lot more attractive to me.

--Justin Fisher