Question all Assumptions 2

If you think you know something every now and then you must Question all your  Assumptions about what you think you know periodically to see if they are still or ever were true. Science advances when we uncover mistaken assumptions and start over.

Today I question the idea of Free Markets being left to regulate themselves free of Government regulations as being the best way to grow the economy, create jobs and bring new products to market.

But I need help can anyone give me an example where Free Markets  left to regulate themselves free of Government regulations proved to be the best way to grow the economy, create jobs and bring new products to market.

I have been looking for examples of this to do a pro vs con post and generate debate but I can’t find any. But its not for lack of trying.

Example 1

France

In France, for 750,000 cases (1,210 per 100,000 inhabitants):

http://en.wikipedia.org/wiki/Foodborne_illness#United_States

Your odds of getting food poisoning and going to the hospital are almost double in low food regulation America rather than high food regulation France but once you get to the hospital your thankfully only a tenth of a percent more likely to die in America than France. Still nearly twice the hospitalization rate means twice the expense. Its funny less government regulation of the food industry costs American Healthcare more money.

In the EU, for instance, 150 million workdays are lost each year due to work accidents, and the insurance costs to be borne by industry add up to 20 billion. And American businesses spend US\$170.9 billion a year on costs associated with occupational injuries and illnesses.

My bold The EU has tons more worker safety regulations than America does Obama and the GOP both call Government regulation job killers. So lets look at the math  \$20 billion vs 170.9 billion for an as of  2010  EU population of about 501.26 million people. America in contrast has 311 million people, but we have over 8 times the cost of workplace safety injuries?  WTF!!!
Maybe if we regulated food and workplace safety better American Healthcare would not cost so Damm Much! If any wants they could do the math about how much more all those American hospital stays for food poisoning cost us than France and then figure out how much less hospital visits cost in France vs America.

Still even without those numbers Imagine what America could do with \$150.9 billion extra dollars in our economy! Next Question do those extra billions translate into good paying jobs and profits for business?

YES THEY DO🙂

In these days of renewed gloom about the future of Europe, a quick test is in order. Who has the world’s biggest economy? A) The United States B) China/Asia C) Europe? Who has the most Fortune 500 companies? A) The United States B) China C) Europe. Who attracts most U.S. investment? A) Europe B) China C) Asia.

The correct answer in each case is Europe, short for the 27-member European Union (EU), a region with 500 million citizens. They produce an economy almost as large as the United States and China combined

U.S. businesses making more profits in Europe than anywhere else, 20 times more than in China

http://blogs.reuters.com/great-debate/2010/02/12/who-wins-in-u-s-vs-europe-contest/

When Steve Jobs complains about how hard it is to build a factory in America vs China he really should remember that he sells more Ipods in America and the EU than he does in China.

Steve Jobs likes to rant that American Public schools suck well guess what Steve it seems this public school kid has more knowledge than you do about your consumers, and the cost savings of government regulation.