If you can manipulate the market why not do it?
Literally no one benefits from the alternative.
Literally no one benefits from the alternative.
You just delay, and render unpredictable, the eventual reckoning, for short-term benefits.
It will be interesting to see who’s gonna blame the free market when that day arrives.
After a century, those short-term benefits add up to a long term benefit.
Future you might disagree with present you. But even if we disregard time, I think millions of consumers would benefit from the opportunity to have competitive markets again. If an actual economic forest fire was allowed to burn, we might eliminate some of the too-big-to-fail corruption and oligopoly that is the norm now and provide space for new seeds to grow.
There's no end of competition, the world changes, companies bloat and make bad choices, smaller competitors can react and change faster - it's only in our corporate hegemony that we don't consider that a viable alternative.
My proposed alternative is that we must accept (as individual nations, perhaps some even balkanized) that austerity measures are irreversible, globally. We cannot help everybody. We should not help anybody until we've helped our own countrymen/fellow-neighbors, first.
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Even Warren Buffett agrees (and his heavily interviewed) espousing the necessity of taxing high net-worth individuals at higher rates (in his definition, $20M+ net-worth). He is not alone in Billionaires quotes similarly.
No Trillionaire has yet agreed with this statement, and fortunately this "accomplishment" must again (thankfully IMHO) wait to become precedent.