Corrupt Tendencies

Dean Baker asks a valid question because Medicare is an important social program, but it loses some relevance as One understands no Congress could possibly survive without periodic Raises of Means-Testing Income levels. Politicians have a tendency to die on the vine, when they think to take back a God-given Right (the consideration entirely in the minds of the Populace; remember the Roman demands for Bread and Games, of the Christians demands for Loaves and Fish). The only sad part about it lay in the fact We have reached that position in parasitic corruption that We can demand unfunded benefit from a corrupt system overburdened by usurious Charges for provision of basic services. It is like the Prices paid for Popcorn at Theaters.

Mark Thoma has written one of the best Posts I have read so far on Markets. It explains that there are potential liabilities to markets, as well as Gains. It also presents a quandary for me, as an entire section of economic authors wrote on Markets in the 1960s which possessed perfect Commentary, and I cannot immediately source any of them. Mark states there is the possibility of perfect Market competition, but Someone had already proved there cannot be, due to the speed of transmission of Information among Participants; what is called a localized monopoly is always formed by the early Entrants into the Market.

Other Authors of unknown origin have already proven (??? can you utilize such a word in the context of a theoretical construct) that Corporate structure do not need to enter into collusion among themselves to set artificial Price structures, only a mutual understanding of the Profit margins the industry desires. Economic Authors have proven even Government regulation will be ignored by the Corporate structure by universal resistence, and that Corporate practice will adopt the cheapest mode of Production, no matter the environmental hazards which might be encountered; a Corporate decision that their legal divisions can fend off any potential financial Penalties which are unprofitable. The privatization of prisons alone heralds the minimization of Training given to Labor cadres; check the average Educational and Training levels of the majority of Labor engaged in Airport security, then multiple by Planes, Trains, and Harbors.
The basic problem with intrinsic Privatization of all elements comes in the form of demanded Profit margins; this Concept bringing entrance into Corruption.

Reliance on Public agency or Government regulation will always be best, whenever Best Practice in economic activity is far more expensive than Lip Service to considerations other than the greatest Profitability. I am like Mark in a belief in Markets, but such belief must be tempered with the knowledge that People working for their own Profit, will always maximize their Profit margins; often to the greatest detriment of their fellow citizens. The second fact which must be understood states a universal Rule about economic Productions: Defined Environmental Spills always cost far more to clean up, than they do to forestall. Relying on the Profit Motive for any form of Economic Protection reminds of hiring a Wolf as a Sheepherder. lgl