Hurricane Harvey and the Failure of the Free Market
Paul Constant
3.2K68

It isn’t even necessary to get into a discussion about economics here.

The marketplace itself can’t exist without a stable high trust society to enforce rights.

Such a society requires a collective agreement on what rights and responsibilities are, what its agreed-upon norms of behavior are, and a collective ethos of mutual respect.

If that is lost to a “every man for himself” ethos, then there is nothing to stop property rights themselves from being hoarded and traded to the most heavily armed.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.