So how do you feel about the government regulating what credit card issuers or insurers are allowed to offer? I see this as similar to the carry-on luggage issue. I don’t want credit card companies to be allowed to offer misleading rates or unfair policies like paying off the lowest interest rates first. I’m not sure about carry-on luggage, but what about charging for a bathroom? That seems clearly within the scope of legitimate concerns of government, given that air travel is already heavily regulated.
That seems clearly within the scope of legitimate concerns of government, given that air travel is already heavily regulated
This argument doesn’t work. Just because you already have heavy regulation, doesn’t justify having more regulation. Also, many libertarians would say that the solution should be to simply remove much of the heavy regulation of air travel.
This argument doesn’t work. Just because you already have heavy regulation, doesn’t justify having more regulation.
Well, it doesn’t by itself justify more regulation, but it makes additional regulation less burdensome. If trains were not regulated and planes were, it might be reasonable to add regulation of bathrooms to plane regulations, but not to introduce regulation to trains so we could regulate bathrooms.
Also, many libertarians would say that the solution should be to simply remove much of the heavy regulation of air travel.
I think there are some credit card practices that could be framed as fraud (You can change my interest rate without telling me? And without telling me you won’t tell me? Seriously? What the hell?) so the government would have to be involved even in a strict libertarian society, but I never like where this is going.
Libertarianism, as a political concept was an idea invented by David Nolan to suit his political theories. He had a chart, and a quarter of it is various types of libertarians.
If you like more social liberties than the American center, and more economic liberties, and are willing to forgo some amount (even a small amount) of government services and protections to achieve them, then you are some where on that quarter of the map. You don’t necessarily have to be way off in the corner with the anarchists or defend every idea they have.
So how do you feel about the government regulating what credit card issuers or insurers are allowed to offer? I see this as similar to the carry-on luggage issue. I don’t want credit card companies to be allowed to offer misleading rates or unfair policies like paying off the lowest interest rates first. I’m not sure about carry-on luggage, but what about charging for a bathroom? That seems clearly within the scope of legitimate concerns of government, given that air travel is already heavily regulated.
This argument doesn’t work. Just because you already have heavy regulation, doesn’t justify having more regulation. Also, many libertarians would say that the solution should be to simply remove much of the heavy regulation of air travel.
Well, it doesn’t by itself justify more regulation, but it makes additional regulation less burdensome. If trains were not regulated and planes were, it might be reasonable to add regulation of bathrooms to plane regulations, but not to introduce regulation to trains so we could regulate bathrooms.
Fair enough.
I think there are some credit card practices that could be framed as fraud (You can change my interest rate without telling me? And without telling me you won’t tell me? Seriously? What the hell?) so the government would have to be involved even in a strict libertarian society, but I never like where this is going.
Libertarianism, as a political concept was an idea invented by David Nolan to suit his political theories. He had a chart, and a quarter of it is various types of libertarians.
If you like more social liberties than the American center, and more economic liberties, and are willing to forgo some amount (even a small amount) of government services and protections to achieve them, then you are some where on that quarter of the map. You don’t necessarily have to be way off in the corner with the anarchists or defend every idea they have.