Thursday, July 09, 2009

"Can we put a price on basic standards of quality?"

Actually we have to. The alternative to quality allocation by price, which generally amounts to Regulation, ends up becoming allocation by status. Of course the people who propose these non-priced solutions tend to be people of high status. Coincidence?
Schools are one example. "Public" schools really are just one aspect of a multi-tiered system of regulated education. The only truly private school in the US is the home school. In some places that isn't even the case any more.
If the logic of Regulation is taken to its conclusion, the only beef allowable by law would be Filet Mignon or better, and since its price would be regulated, it would not be available to the peons at all. Only the well connected would get beef. And maybe people on welfare could get "government beef" which would probably be decent (I know the government cheese was) but only available on a first come first serve basis.
Does this remind you of a certain Union of Republics? Soviet Republics?
Well that's also no coincidence. They know the hard limit now, but they will try to get us as close to that asymptote without breaking the engine of "white market" labor power altogether. Fortunately, I doubt their ability to pull off this brinkmanship for long, no matter how many PhDs and other supposed "experts" they've got trying.

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