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Re: Another question about free-markets...

At 11:53 PM 10/4/98 -0500, Jim Choate wrote:
> Now in a free-market, by definition, there is no law. What
> then is the responsibility of businesses other than the
> pure unadulterated pursuit of profit? 

None whatsoever.

> If this includes lying, denying consumers information, etc.
> what harm is done, they have fulfilled their responsibility
> to their shareholders (potentialy quite lucratively) 

While there is a sucker born every minute, the strategy you
describe is for the most part unlikely to be profitable.

> Within this environment it follows that a primary strategy
> for such executives is the elimination of *all*
> competition.

Fortunately the most cost effective method of eliminating all
competition is that followed by Alcoa, to deliver a
satisfactory product at the cheapest possible price.

In the cocaine market a number of organizations have
attempted to employ other methods for eliminating
competition, but here in America these methods have generally
proved not only unprofitable, but also for the most part

         James A. Donald
We have the right to defend ourselves and our property, because 
of the kind of animals that we are. True law derives from this 
right, not from the arbitrary power of the omnipotent state.

http://www.jim.com/jamesd/      James A. Donald