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
🔵 PROBLEMS WITH LIMITED GOVERNMENTS
▶️ While many contemporary political thinkers agree that government powers should be constrained, there is considerable disagreement on the exact limitations that government power should have. Many critics argue that government has the ability or obligation to solve collective action problems that cannot be solved by market forces alone.
▶️ A common example is the environmental regulations that punish businesses for polluting the air or water. Although it is possible for individuals to pursue polluting industries through the court system, this solution is out of reach for many potential victims–particularly those who are excluded from the legal system. Instead, the Environmental Protection Agency is expected to penalize these industries on behalf of the public.
▶️ Another is the protection of key industries. Many governments use subsidies or tariffs to support domestic agriculture or manufacturing, even though prices would be cheaper on the world market.
▶️ Although protectionism sometimes works on behalf of political interest groups, it can also support industries with a strategic or security value. According to this reasoning, the cost of supporting these industries is lower than the cost of not having them—particularly in the event of a major crisis, such as a war or famine.
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🔵 LIMITED GOVERNMENTS & THE ECONOMY
▶️ In economic policy, limited governments seek minimal interventions in trade or commercial activity. They are often associated with concepts such as laissez-faire economics, as first delineated in Adam Smith’s 1776 book entitled An Inquiry into the Nature and Causes of the Wealth of Nations. In this context, the most extreme sort of limited government would be one that lets supply and demand drive the economy: the government would not intervene to set prices or influence business activity.
▶️ Proponents of this view believe that limited government can facilitate economic growth and prosperity by minimizing restrictions on commercial activity. This view—later associated with the Austrian school of economics—holds that government interventions in the economy can distort markets and reduce competition, resulting in shortages or high prices.
▶️ Critics of this view believe that the government has an obligation to intervene in the economy, either to support certain industries or reduce wealth inequality. In contemporary economics, this view is frequently associated with John Maynard Keynes, who argued that government spending can actually stimulate economic activity.
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🔵 HISTORY OF LIMITED GOVERNMENTS
▶️ Limited government, in its modern conception, originated out of the classical liberal tradition in Europe. This tradition emphasized the rights of the individual, in contrast to the monarchies and theocratic governments that dominated Europe at that time.
▶️ The Magna Carta, drafted in the year 1215, is one of the earliest written descriptions of a limited government. The document limited the reach of the English king's power by giving the country's nobility rights that they could exercise over the throne. However, the document only protected a small part of what is today the United Kingdom.
▶️ The United States Constitution, written in 1787, extended the idea of a limited government by separating the powers of state and federal governments. It also segmented the federal government into three branches: legislative, judicial, and executive. This is intended to make it difficult for any single person or interest group to control the entirety of government power.
▶️ In addition, the Bill of Rights—the first 10 amendments to the U.S. Constitution, ratified in 1791—enumerates certain prohibitions that apply to the government. These rights further limit the federal government by prohibiting certain uses of government power.
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🔵 UNDERSTANDING A LIMITED GOVERNMENT
▶️ The theory of limited government can be traced back to the Enlightenment philosophers of the seventeenth century, but the idea itself is much older.
▶️ It is also associated with the free market and classical liberalism, though politicians and economists differ on the exact limitations that a government should have.
▶️ In its basic form, a limited government is one whose main function is the protection of people and their property, and it levies just enough taxes to finance services related to these purposes. According to this interpretation, a limited government might tax the population to pay for police or national defense, but it would not concern itself with the beliefs or moral behavior of its citizens.
▶️ Another interpretation defines a limited government as one that exercises only the specifically named powers that its constitution assigns to it. It can also be characterized by a separation of powers and a system of checks and balances. For example, the U.S. government is restricted to exercising the specifically named powers that the constitution assigns to it.
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🔵 WHAT IS A LIMITED GOVERNMENT❓
▶️ A limited government is one where legalized force is restricted through delegated and enumerated authorities. Countries with limited governments have fewer laws about what individuals and businesses can and cannot do. In many countries, a written constitution is used to spell out the powers and limitations of government power.
▶️ The opposite of a limited government is an interventionist or authoritarian government. In reality, most countries - even those with otherwise high degrees of freedom and liberty - operate with some amount of government control and intervention.
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🔵 MEASURING ECONOMIC FREEDOM
▶️ In order to study the effects of free markets on the economy, economists have devised several well known indexes of economic freedom. These include the Index of Economic Freedom published by the Heritage Foundation, and the Economic Freedom of the World and Economic Freedom of North America indexes published by the Fraser Institute.
▶️ These indexes include items such as the security of property rights, the burden of regulation, and openness of financial markets, among many other items. Empirical analysis comparing these indexes to various measures of economic growth, development, and standards of living shows overwhelming evidence of a relationship between free markets and material well being across countries.
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🔵 COMMON CONSTRAINTS ON THE FREE MARKET
▶️ All constraints on the free market use implicit or explicit threats of force. Common examples include: prohibition of specific exchanges, taxation, regulations, mandates on specific terms within an exchange, licensing requirements, fixed exchange rates, competition from publicly provided services, price controls, and quotas on production, purchases of goods, or employee hiring practices. Common justifications for politically imposed constraints on free markets include consumer safety, fairness between various advantaged or disadvantaged groups in society, and the provision of public goods. Whatever the outward justification, business firms and other interest groups within society often lobby to shape these constraints in their own favor in a phenomenon known as rent-seeking. When free market behavior is regulated, the scope of the free market is curtailed but usually not eliminated entirely, and voluntary exchanges may still take place within the framework of government regulations.
▶️ Some exchanges may also take place in violation of government rules and regulations on illegal markets which may be in some ways considered an underground version of the free market. However, market exchange is still heavily constrained because, on an illegal market, competition often takes the form of violent conflict between rival groups of producers or consumers as opposed to free market competition or rent-seeking competition via the political system. As a result, in an illegal market, competitive advantage tends to flow to those who have a relative advantage at violence, so monopolistic or oligopolistic behavior is likely and barriers to entry are high as weaker players are driven out of the market.
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🔵 FREE MARKETS & FINANCIAL MARKETS
▶️ In free markets, a financial market can develop to facilitate financing needs for those who cannot or do not want to self-finance. For example, some individuals or businesses specialize in acquiring savings by consistently not consuming all of their present wealth. Others specialize in deploying savings in pursuit of entrepreneurial activity, such as starting or expanding a business. These actors can benefit from trading financial securities such as stocks and bonds.
▶️ For example, savers can purchase bonds and trade their present savings to entrepreneurs for the promise of future savings plus remuneration, or interest. With stocks, savings are traded for an ownership claim on future earnings. There are no modern examples of purely free financial markets.
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🔵 THE FREE MARKET'S CONNECTION WITH CAPITALISM & INDIVIDUAL LIBERTY
▶️ No modern country operates with completely uninhibited free markets. That said, the most free markets tend to coincide with countries that value private property, capitalism, and individual rights. This makes sense since political systems that shy away from regulations or subsidies for individual behavior necessarily interfere less with voluntary economic transactions. Additionally, free markets are more likely to grow and thrive in a system where property rights are well protected and capitalists have an incentive to pursue profits.
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🔵 UNDERSTANDING FREE MARKET
▶️ The term “free market” is sometimes used as a synonym for laissez-faire capitalism. When most people discuss the “free market,” they mean an economy with unobstructed competition and only private transactions between buyers and sellers. However, a more inclusive definition should include any voluntary economic activity so long as it is not controlled by coercive central authorities.
▶️ Using this description, laissez-faire capitalism and voluntary socialism are each examples of a free market, even though the latter includes common ownership of the means of production. The critical feature is the absence of coercive impositions or restrictions regarding economic activity.
▶️ Coercion may only take place in a free market by prior mutual agreement in a voluntary contract, such as contractual remedies enforced by tort law.
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