Galbraith was the poster child of the looters.
Quote from Thunderdog:
All very good points (especially the parts where you agree with me). But true laissez-faire capitalism, as implied by Rand, would inevitably result in monopolism and other anti-competitive practices that would come at the expense of the consumer and other well-intentioned enterprises. (Look at the examples offered by history.) Also, we have seen how a lack of regulation can truly muck things up, where de facto fraud can often pass for incompetence. That's not to say I favor a "central planning committee." However, surely there is a middle ground. I wish that John Kenneth Galbraith were alive so that he could chime in.
). But true laissez-faire capitalism, as implied by Rand, would inevitably result in monopolism and other anti-competitive practices that would come at the expense of the consumer and other well-intentioned enterprises. (Look at the examples offered by history.) Also, we have seen how a lack of regulation can truly muck things up, where de facto fraud can often pass for incompetence. That's not to say I favor a "central planning committee." However, surely there is a middle ground. I wish that John Kenneth Galbraith were alive so that he could chime in.