Prices are costs and burdens

The attitude remains that all regulation is some terrible burden on business. It isn’t: it’s the price of fair competition.

A price is still a burden. Try buying some decent steak if you think it’s not.

17 thoughts on “Prices are costs and burdens”

  1. Grikath,

    That will require the convening of many, many committees, including accountants. And those committees will need to consume steak without paying for it.

  2. Dear Mr Worstall

    Regulation makes competition unfair by creating a barrier to entry, protecting established businesses and stifling innovation.

    Nought out of ten for P Murphy.

    DP

  3. Wot DP says.
    And as I own and run a retail FS business I can assert without contradiction and with all the evidence I need, that Ritchie is talking absolute bollocks. Which, obviously, is not a surprise.

  4. Well I suppose so but this rather touches on the feeble-ness of the Libertarian position.
    Capitalism cannot exist without rules in fact it cannot exist prior to a pretty well developed civilisation. You need trusted contracts, law, property, a state to enforce it ..and much more
    In reality the State is not supported by capitalism it is the other way around
    A capitalist complaining about regulation is like Shakespeare complaining about the constraints of the Sonnet form or a pianist whining about all the boring piano lessons he had to endure.
    I interpret it as an attempt regain childhood, not such a terrible thing but rather silly

  5. Dennis, Tiresome Denizen of Central Ohio

    In reality the State is not supported by capitalism it is the other way around

    The only way you could make this statement dumber would be to somehow work Brexit into it.

    And I’m still of the opinion that Newmania is Richard Murphy’s younger brother. The one the family kept locked in the attic.

  6. “You need trusted contracts, law, property, a state to enforce it”

    Nope. You need *something* to enforce it. In most societies this has converged in the State being the enforcer, but it is not automatic or required. I recommend The Ballad of Narayama for study.

  7. Plus, Newmy, not all libertarians are anarchist libertarians. There are plenty who subscribe to minarchism or some variant of it.

  8. Dennis, Bullshit Detector

    Capitalism cannot exist without rules in fact it cannot exist prior to a pretty well developed civilisation.

    Really? There’s plenty of evidence of wide-ranging trade in pre-historical societies. Just how do you define a “well developed civilisation”? One tribe trading feathers to another tribe for beads?

  9. Newmonia. The London Stock Exchange has run without the benefit of State oversight or intervention for most of its history. Simply on “My word is my bond” and its implications. How capitalist do you want?

  10. As a pianist, I wish to confirm that I enjoyed rather than endured piano lessons which were not remotely boring in sharp contradistinction to Pneumie’s contributions.

  11. In reality the State is not supported by capitalism it is the other way around

    Capitalism – peaceful voluntary free trade – is the default condition and exists until thugs come along and violently inflict some coercive alternative on people, such as socialism.

    It is the various leftist ideologies – socialism, fascism, nazism, communism or whatever – that are created and ‘supported’ by the state.

  12. The new insurance regs. Not allowed to pay higher premium based purely on an automatic renewal or something. All being equal, I like this reg. Yes usually all for free market and less scottish peeps subsising the rest of us. I get that, but current solution is to pay a middleman to do that for you- yeah ok, but if i can sweep that away too with a draughtsman’s quill then i think that’s ok too. Unfortunately quillstrokes aren’t limited to only that. Which kind of tarnishes it, i.e. just as easy to proscribe different premiums for different insurance risks so that more careful geese now have to subsidise the ganders.

  13. “A price is still a burden. Try buying some decent steak if you think it’s not”

    Not for those of us in rural Somerset. Pop down the farm and cheap as chips.

Leave a Reply

Your email address will not be published. Required fields are marked *