Stocks, Crypto & Exchange
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📰 Know what you own, and know why you own it. 🤝 ~ Peter Lynch | @Exchange
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📈 Analytical overview of Telegram channel Stocks, Crypto & Exchange
Channel Stocks, Crypto & Exchange in the English language segment is an active participant. Currently, the community unites 34 971 subscribers, ranking 6 824 in the Economy & Finance category.
📊 Audience metrics and dynamics
Since its creation on невідомо, the project has demonstrated rapid growth, gathering an audience of 34 971 subscribers.
According to the latest data from 08 September, 2024, the channel demonstrates stable activity. Although there has been a change in the number of participants by 0 over the last 30 days and by 0 over the last 24 hours, overall reach remains high.
- Verification status: Not verified
- Engagement rate (ER): The average audience engagement rate is 0%. Within the first 24 hours after publication, content typically collects N/A% reactions from the total number of subscribers.
- Post reach: On average, each post receives 0 views. Within the first day, a publication typically gains 0 views.
- Reactions and interaction: The audience actively supports content: the average number of reactions per post is 0.
📝 Description and content policy
The author describes the resource as a platform for expressing subjective opinions:
“📰 Know what you own, and know why you own it. 🤝
~ Peter Lynch | @Exchange”
Thanks to the high frequency of updates (latest data received on 09 September, 2024), the channel maintains relevance and a high level of publication reach. Analytics show that the audience actively interacts with content, making it an important point of influence in the Economy & Finance category.
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Posts Archive
🔵 WHAT IS LAISSEZ-FAIRE CAPITALISM❓
▶️ In Laissez-Faire capitalism, companies could operate with a pure profit motive and not have to worry about government regulation or taxation. This, of course, could create negative externalities and information asymmetries that can allow producers to behave as bad actors and get away with it. Proponents of Laissez-Faire say that costly and exhaustive regulation is not needed since the market would weed out such bad actors. In reality, however, bad actors may continue operating for a long while. For instance, if a vitamin company is filling their capsules with sawdust instead of herb powder, it may remain unknown without government testing and regulatory oversight to protect consumers.
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🔵 WHAT IS AN EXAMPLE OF LAISSEZ-FAIRE❓
▶️ An economy would follow the principles of Laissez-Faire if it followed an approach where the government was not at all involved in the workings of the economy, business, or markets. Instead, the free market would regulate not only prices but also discipline producers to remain good actors. In reality, such an economy does not exist. All economies, even in countries with highly Libertarian values, have some degree of government regulation and intervention.
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🔵 WHAT DOES "LAISSEZ-FAIRE" MEAN LITERALLY❓
▶️ Laissez-Faire, in French, literally means "let it be." Legend has it that the origins of the phrase "laissez-faire" in an economic context came from a 1681 meeting between the French finance minister Jean-Baptise Colbert and a businessman named Le Gendre. As the story goes, Colbert asked Le Gendre how best the government could help commerce, to which Le Gendre replied "Laissez-nous faire;" basically, "Let it be." The Physiocrats popularized the phrase, using it to name their core economic doctrine.
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🔵 PROS & CONS OF LAISSEZ-FAIRE
🟢 PROS
▶️ Government involvement in business thought to be inefficient and stifling
▶️ Encourages self-responsibility and innovation
▶️ Promotes free markets and competition
🟢 CONS
▶️ Lack of regulations can harm consumers and the environment
▶️ Can generate negative externalities
▶️ Competition naturally leads to wealth inequality
▶️ May incentivize bad actors
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🔵 CRITICISM OF LAISSEZ-FAIRE
▶️ One of the chief criticisms of laissez-faire is that capitalism as a system has moral ambiguities built into it: It does not inherently protect the weakest in society. While laissez-faire advocates argue that if individuals serve their own interests first, societal benefits will follow.
▶️ Detractors feel laissez-faire actually leads to poverty and economic imbalances. The idea of letting an economic system run without regulation or correction in effect dismisses or further victimizes those most in need of assistance, they say.
▶️ The 20th-century British economist John Maynard Keynes was a prominent critic of laissez-faire economics, and he argued that the question of market solution versus government intervention needed to be decided on a case-by-case basis.
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🔵 HISTORY OF LAISSEZ-FAIRE
▶️ Popularized in the mid-1700s, the doctrine of laissez-faire is one of the first articulated economic theories. It originated with a group known as the Physiocrats, who flourished in France from about 1756 to 1778.
▶️ These thinkers tried to apply scientific principles and methodology to the study of wealth and economic production. These "économistes" (as they dubbed themselves) argued that a free market and free economic competition were extremely important to the health of a free society.
▶️ The government should only intervene in the economy to preserve property, life, and individual freedom; otherwise, the natural, unchanging laws that govern market forces and economic processes—what later British economist Adam Smith, dubbed the "invisible hand"—should be allowed to proceed unhindered.
▶️ Unfortunately, an early effort to test laissez-faire theories did not go well. As an experiment in 1774, Turgot, Louis XVI's Controller-General of Finances, abolished all restraints on the heavily controlled grain industry, allowing imports and exports between provinces to operate as a free trade system. But when poor harvests caused scarcities, prices shot through the roof; merchants ended up hoarding supplies or selling grain in strategic areas, even outside the country for better profit, while thousands of French citizens starved. Riots ensued for several months. In the middle of 1775, the order was restored, and with it, government controls over the grain market.
▶️ Despite this inauspicious start, laissez-faire practices, developed further by such British economists as Smith and David Ricardo, ruled during the Industrial Revolution of the late 18th and early 19th century. And, as its detractors noted, it did result in unsafe working conditions and large wealth gaps.
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🔵 UNDERSTANDING LAISSEZ-FAIRE
▶️ The underlying beliefs that make up the fundamentals of laissez-faire economics include the idea that economic competition constitutes a "natural order" that rules the world. Because this natural self-regulation is the best type of regulation, laissez-faire economists argue that there is no need for business and industrial affairs to be complicated by government intervention.
▶️ As a result, they oppose any sort of federal involvement in the economy, which includes any type of legislation or oversight; they are against minimum wages, duties, trade restrictions, and corporate taxes. In fact, laissez-faire economists see such taxes as a penalty for production.
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🔵 WHAT IS LAISSEZ-FAIRE❓
▶️ Laissez-faire is an economic theory from the 18th century that opposed any government intervention in business affairs. The driving principle behind laissez-faire, a French term that translates to "leave alone" (literally, "let you do"), is that the less the government is involved in the economy, the better off business will be, and by extension, society as a whole. Laissez-faire economics is a key part of free-market capitalism.
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🔵 EXAMPLES OF LIMITED GOVERNMENTS
▶️ Since 1996, the Fraser Institute – a Canadian research and educational organization – has produced annual reports ranking countries in terms of how much their policies and institutions are supportive of economic freedom. It measures limited government by the size of government (top marginal tax rates, public spending), the legal system (protection of property rights, judicial independence), sound money (inflation), freedom to trade internationally (tariffs, trade barriers), and regulation of credit markets, labor markets, and businesses.
▶️ The following rankings come from the Fraser Institute’s 2021 Economic Freedom of the World Index (“Fraser Index”), which analyzes 165 countries and territories.
🟢 HONG KONG
▶️ Technically an autonomous region of China, Hong Kong was nevertheless ranked first in the 2021 Fraser Index, largely because of its low barriers to trade and foreign investment.
▶️ Hong Kong also has low tax rates and relatively lax labor protections.
It should be noted that the Fraser Index places significantly more importance on economic freedom than political freedom. In 2019—the year that the 2021 data was based on–Hong Kong was also the site of fierce crackdowns, including arbitrary arrests and deportations. Nonetheless, the Fraser Institute ranked Hong Kong first in economic freedom.
🟢 HONDURAS
▶️ Although it was ranked 70th in terms of economic freedom, the Fraser Index ranked Honduras second in size of government—just behind neighboring Guatemala. Honduras had a high score for its monetary policy and minimal interventions in the economy, balancing out low scores for its legal system.
🟢 NEW ZEALAND
▶️ According to the Fraser rankings, New Zealand was the third-freest economy in the world, though it ranked 92 in terms of size of government. The country earned high marks for allowing freedom of trade, business-friendly regulations, and its legal system. However, the country scored lower in size of government, largely due to government spending and subsidies.
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