Re: Penn and Teller on Walmart
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Most regulations are fought for by corporations to levy power against other corporations. Walmart also takes in billions in government subsidies each year. Where's the attacks against Walmart for doing that?
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This is an excellent point and is a primary reason why I think libertarians in general should be far less gung-ho about defending wal-mart.
Wal-mart is not the product of free markets but rather something like corporate capitalism. So we shouldn't assume that Wal-mart is the way it is--or that the wal-mart business model is shown to be empirically successful--because of free choices and voluntary exchanges. Wal-mart has been able to attain its huge domination of the market in part because it has been so successful in using the government to get subsidies, squelch competition, etc.
This isn't to say that wal-mart should be 'banned' or that government action is needed (obviously), or even that wal-mart is totally bad (it's not), but just that we should remember that businesses as a whole would look and operate far differently in a truly free society than they do today. And thus we should defend the virtues of a free market without defending the things that succeed with government help in today's unfree market.
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