
The last couple of days, I’ve been pondering something Jeff Gamso wrote, at least partly as a response to a comment I made on his blog. As with a lot of Jeff’s stuff, it’s taking me longer to consider than most things I read. I like that. I like that Jeff makes me think. Too many people in the world don’t seem to spend enough time thinking, or helping others think, these days.
Take these two cops, for instance.


The practice — far, far, far more common than the average American could possibly imagine — is so widespread that it even has a name: 

Whatever the Market Will Bear
The phrase “whatever the market will bear” is typically used in economic discussions. Primarily, when discussing how fees for various products or services are set you’ll hear the phrase offered as some explanation for what is really exploitation of the market. It only works well in a non-competitive environment. Adam Smith, the pioneer of political economy who authored An Inquiry Into the Nature and Causes of the Wealth of Nations,
would have considered the type of power — and unrestrained greed — that supports the idea of “whatever the market will bear” as a thing too terrible to imagine.
But then, Smith was passionate about liberty, reason, and free speech. He was a classical liberal, a believer in “natural liberty”, but not quite the free-wheeling laissez-faire libertarian those who frequently co-opt his theories apparently believe him to be.
Smith believed there was a danger in too much concentration of power which naturally occurs on the side of businesses and the rich in an unregulated environment. There are some interesting parallels between Smith’s concerns about the collusive nature of business interests and the problem of our dying Constitution and the consequent perversion of our criminal justice system.
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