Ok, Obamaniacs (Cali)....

[Colly Wolly]

Originally Posted by ChinoCoug

so when the government created the discipline of computer science 30 years ago that let to the advent of the internet, it screwed up the efficiency of the market?

Yes, and when it built the Washington monument, it screwed up the efficiency of the market.

[creekster]

Originally Posted by ChinoCoug

so when the government created the discipline of computer science 30 years ago that let to the advent of the internet, it screwed up the efficiency of the market?

Are you saying you think the government created, literally, the "discipline" of computer science in 1978?

[ChinoCoug]

Originally Posted by Mormon Red Death

the government created computer science???

yes, it wasn't an academic discipline before.

There are plenty of instances where the market won't produce the most efficient outcome. The government's job is to correct market failures like imperfect information, externalities, etc.

[Colly Wolly]

Originally Posted by ChinoCoug

The government's job is to correct market failures like imperfect information, externalities, etc.

Your opinion.

[ChinoCoug]

http://www.ais.org/~ronda/new.papers/arpa_ipto.txt

[ChinoCoug]

Originally Posted by Colly Wolly

Your opinion.

that's not an opinion, that's the most basic economics.

[Mormon Red Death]

Originally Posted by ChinoCoug

yes, it wasn't an academic discipline before.

There are plenty of instances where the market won't produce the most efficient outcome. The government's job is to correct market failures like imperfect information, externalities, etc.

I guess we disagree on the what the government's job is. I say its to protect life, liberty and property. You say its to intervene in the market place. I thought you were an economist? and if that is true how could you possibly make the argument above?

[Mormon Red Death]

Originally Posted by ChinoCoug

that's not an opinion, that's the most basic economics.

Basic economics is:

the social science that studies the production, distribution, and consumption of goods and services.

[ChinoCoug]

Originally Posted by Mormon Red Death

I guess we disagree on the what the government's job is. I say its to protect life, liberty and property. You say its to intervene in the market place. I thought you were an economist? and if that is true how could you possibly make the argument above?

I was an economics major, I don't have a PhD. You sound sound like you had economics. Didn't you learn anything about externalities, asymmetric information, misaligned incentives, etc.? Or had they not developed those theories when you were in college?

I don't know any economist who believes that markets never fail.

[Mormon Red Death]

Originally Posted by ChinoCoug

I was an economics major, I don't have a PhD. You sound sound like you had economics. Didn't you learn anything about externalities, asymmetric information, misaligned incentives, etc.?

I don't know any economist who believes that markets never fail.

Sure I understand about those items. I just believe that when the government gets involved its not a good thing. My expertise is the medical industry. I don't believe any other industry has as much government intervention as that one. The major payor in the industry is the government. State government in trying to "fix" market failures have enacted various regulations (certificate of need etc...). Which create many other market failures which is the primary reason everyone's Medicare tax (1.9%) and Insurance rates are so high.