In a bit about Ticketmaster selling tickets to live performances, comedian John Oliver on HBO makes the point about marketplace principles I made 14 years ago. A topic that applies to all constructs feigning a marketplace. Given their economic impact, market purveyors such as Amazon, Expedia, stock markets, and many others are even worse offenders of free-marketplace principles. We could tell John Oliver how to do a program on each.
Oliver delivers the evidence of what happens when American freedom is taken for a ride when its paradoxical rules are missing. Consumers are scammed in what is the opposite of freedom. The principles of real marketplaces must connect unrestricted supply with unrestricted demand in a no-touch marketplace.
Indeed, no freedom can exist without paradoxical rules to prevent the vile maxims of individual freedoms from harming the trust in collective freedom. The first-principles of freedom yield a theory of a marketplace system protected by paradoxical rules, in that order. An empty sack is the outcome of a feigned marketplace in blissful denial of free-market principles and without the diligent conformance to freedom in the marketplace system.
Policymakers should not just rein in Ticketmaster but relay the foundational principles I spelled out to make America proud of the kind of freedom it claims to be the expert. We built the wrong world for ourselves. It is time to rethink how we do things in this country and inspire the world with new rigors of excellence we first and successfully apply to ourselves.
We can and must reinvent ourselves to inspire a world that looks to us for answers and leadership.