Economic power vs. political power
What follows are three examples of a common fallacy:
- The FTC brings an antitrust suit against Intel on the grounds that, among other accusations, the company coerced its customers into buying only its CPUs and GPUs.
- Congress passes legislation preventing broadcasters from forcing TV viewers to listen to “excessively loud” commercials.
- The government passes laws to stop health insurance companies from forcing high-risk customers to pay higher insurance premiums.
Each of these is an actual example of the fallacy of equivocating between economic power and political power–of treating as identical the power of private individuals or businesses to engage in trade and the power of the government to use physical force. Understanding this fallacy is a crucial step in untangling these and many other issues. Read the rest of this entry »
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