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#131
10-31-2007, 03:05 PM
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Re: A/C in Action: The AP Case
[ QUOTE ]
[ QUOTE ] [ QUOTE ] The claim of ACists is that the market maximizes value, not just provides some value. [/ QUOTE ] Not of THIS ACist. Value is subjective. [/ QUOTE ] Nor this one. [/ QUOTE ] So excluding the morality of government, do you both renounce all claims that the market will do a better job than the government in important areas? 
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#132
10-31-2007, 03:06 PM
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Re: A/C in Action: The AP Case
In a free market would the sites not be allowed to advertise their services? Think the AP scandal would have more of a market effect if they could run ads touting their security over other sites?
In a free market would I not be allowed to put my money where I see fit with minimal trouble? In a free market would certain sites not do business in the US for fear of legal repercussions? The online poker landscape is far from a free market.
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#133
10-31-2007, 03:11 PM
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Re: A/C in Action: The AP Case
[ QUOTE ]
The market has provided that information to consumers they just aren't interested in finding it or acting on it when they do! They may say that their interested but this little situation proves conclusivly that they're not. [/ QUOTE ] That's part of the crux of this issue. Consumers may want this information, but not have the awareness, skill, expertise or time to determine it. If I had to research every product before I bought it, efficiency would grind to a halt. I'd much rather a regulatory agency I know I can trust test for excess pesticides or lead on toys, so I know I don't even need to investigate items that I find on shelves, the credentials of the manufacturer, the credentials of the store, the credentials of the private regulatory body whose interest is profit. This idea (transaction costs costs caused by AC vs efficiency generated by absolute power and implicit regulation) is a huge argument for government.
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#134
10-31-2007, 03:15 PM
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Re: A/C in Action: The AP Case
To all who say this is a failure of the market to selfregulate,
If there had been heavy regulation in this industry by our government or any other government, for that matter, how long would it take in your estimation for this whole matter to be resolved and "adaquate" punishment delt to Absolute?
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#135
10-31-2007, 03:17 PM
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Re: A/C in Action: The AP Case
[ QUOTE ]
That's part of the crux of this issue. Consumers may want this information, but not have the awareness, skill, expertise or time to determine it. If I had to research every product before I bought it, efficiency would grind to a halt. I'd much rather a regulatory agency I know I can trust test for excess pesticides or lead on toys, so I know I don't even need to investigate items that I find on shelves, the credentials of the manufacturer, the credentials of the store, the credentials of the private regulatory body whose interest is profit. [/ QUOTE ] Note that Consumer Reports is non-profit, highly reliable, widely regarded as trustworthy, and in fact is calling out companies that the government already is not calling out. At worst, the cold, souless profiteering private regulatory bodies you fear so much would have to compete with Consumer Reports. Why do you think the market wouldn't just produce more agencies like Consumer Reports (who need to be effective to continue to exist), rather than assuming that only regulatory Big Bad Businesses Putting Profits Before People would rule the day with their evil spreadsheets and oppressive neckties.
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#136
10-31-2007, 03:21 PM
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Re: A/C in Action: The AP Case
[ QUOTE ]
To all who say this is a failure of the market to selfregulate, If there had been heavy regulation in this industry by our government or any other government, for that matter, how long would it take in your estimation for this whole matter to be resolved and "adaquate" punishment delt to Absolute? [/ QUOTE ] Well, their license would be revoked for one, which means they couldn't operate under pain of jail time. To be honest I can't imagine a scandal like this even happening under modern gaming regulations, such as those in the UK. There's too much to lose and too much oversight. Even if it did, the site would be shut down and/or forcibly have a transfer of ownership.
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#137
10-31-2007, 03:21 PM
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Re: A/C in Action: The AP Case
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] [ QUOTE ] APs actions and the aftermath are clear indications to me that trusting the "market" to provide critical information to consumers and to lead to Darwinian evolution of that particular business is a dismal failure so far. It is equivalent to the failures in the holistic/herbal supplements...a snake oil business that rips off its consumers for $ billions. [/ QUOTE ] Or trashy newspapers, or credit cards, or religions. Just because people have a consumer preference that you understand to be objectively false doesnt mean that it doesnt produce value for that consumer. [/ QUOTE ] The claim of ACists is that the market maximizes value, not just provides some value. [/ QUOTE ] Not of THIS ACist. Value is subjective. [/ QUOTE ] Nor this one. [/ QUOTE ] Not me either.
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#138
10-31-2007, 03:22 PM
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Re: A/C in Action: The AP Case
Off the top of my head I can think a few examples of how the government has broken the trust of the people. First, the Dems promising to hold Bush 2 accountable when they took control of the Senate. There is also the platform of noninterventionalism and "no nation building" that Bush 2 ran on in 2000. Social security also comes to mind. I'm sure there are numerous other examples people could come up with from this country and others, but I think that is a good enough start.
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#139
10-31-2007, 03:23 PM
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Re: A/C in Action: The AP Case
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] The claim of ACists is that the market maximizes value, not just provides some value. [/ QUOTE ] Not of THIS ACist. Value is subjective. [/ QUOTE ] Nor this one. [/ QUOTE ] So excluding the morality of government, do you both renounce all claims that the market will do a better job than the government in important areas? [/ QUOTE ] Not believing that the martket maximizes just means that it's not perfect, not that it isn't better than government 90%+ of the time. But look, I'm giving you a solid not-quite-10%!
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#140
10-31-2007, 03:27 PM
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Re: A/C in Action: The AP Case
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] The claim of ACists is that the market maximizes value, not just provides some value. [/ QUOTE ] Not of THIS ACist. Value is subjective. [/ QUOTE ] Nor this one. [/ QUOTE ] So excluding the morality of government, do you both renounce all claims that the market will do a better job than the government in important areas? [/ QUOTE ] Better according to whose subjective personal preferences? I can think of a lot of people who think it will be significantly worse.
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