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patriot-1453 t1_jcddugq wrote

Is this free market or state capitalism? Is US becoming China?

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Flatline2962 t1_jcdomsg wrote

There is no such thing as a free market. Never has been, never will be.

On one hand there will always be someone who wants to manipulate and control the market. On the other hand we've pretty well established by now that neurologically, the way that we expect consumers in a "free market" to behave doesn't happen. And between those two realities, the market is there to convince us, quite literally, that the market is fair, while making it as unfair as it possibly can.

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cgmcnama t1_jcdgsa4 wrote

There have always been guardrails on the free market such as child labor laws or other consumer protections. If we wanted a true free market we would allow everyone to freely immigrate to the US and have no minimum wage. That is pure capitalism.

This is still a free market but this would be just another type of common guardrail like we already have. The aim is to protect consumers privacy and national interests (such as if we were drawn into a conflict with China)

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hatrickstar t1_jck99wl wrote

Then maybe we should be addressing American social media companies selling our data to Chinese companies as well...it's literally the same thing with a few extra steps...and possibly a bit more treasonous...

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cgmcnama t1_jckcxua wrote

We could do both. But at least American companies are held accountable to an independent judiciary or do enough business in the EU to be forced to be compliant with their rules as well. Comparing the US/EU to the CCP is impossible because they are two different forms of government and judicial accountability.

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hatrickstar t1_jckgiol wrote

What world are you living in where a US tech company was held accountable for something they've done with our data?.....

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