Markets are a tool which can work extremely well if deployed carefully and within a sensible regulatory framework. Given that the world CO2 level keeps rising, we can't eat fish because of heavy metals and we all have forever microplastics in us, I think it's fair to question some of our assumptions.
>> Markets aren't expected to account for externalities. Externalities are the things you're supposed to tax.
Agreed - however taxing externalities doesn't seem to be working out in practice (in the US).
>> You're describing regulatory capture. This is why governments are supposed to have limited powers.
Wealth inequality can rise without regulatory capture. Government is not the source of all evil. Smaller govenrment would just lead to further concentration of wealth and power within the private sector. We need a balanced system, not blind devotion.
>> Markets are actually pretty good at providing all of those things... The real problem here is that some people can't afford those thing
So can the market provide those things or not? Clearly we want everyone to have an education not just the uber wealthy.