The derivatives and other financial products market that just trashed the US economy was as close to a laissez faire capitalistic market as the real world can accomodate - unregulated, unsupervised, unencumbered by foreign or domestic law, unencumbered by geography or language or religion or inconvenient features of its commodities or social custom or traditional responsibility, entirely voluntary and ungoverned free market exchange. It was a Rand Utopia, and consciously so - its arrangement was overseen by Rand devotees.madanth said:As to our present economic troubles being an example of the failure of laissez faire capitalism; DO YOU REALLY BELIEVE WE'VE BEEN LIVING UNDER LAISSEZ FAIRE CAPITALISM IN THE US LATELY?
It was a fucking disaster. It became immediately a pirate's nest of scam artists ripping each other off for billions, and wrecking the entire financial system they inhabited.
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