That’s not really a practical answer. Government has an essential role to play. Markets do not regulate themself. This is well-understood in economics.
Responsible regulation of the financial, housing and credit markets in the last decade would have largely prevented the housing bubble and economic meltdown, which would have alleviated the need for these horrible bailouts.
Regulation of offshore drilling would have prevented the Gulf Oil spill. Mining regulations would have shuttered Massey before that disaster took place. Drinkable water running through your pipes, police/fire, streets and roads, safe food, the electricity that powers your computer — any number of social ‘goods’ are supported, directly and indirectly, through government.
For my part, I think the answer has more to do with curbing the influence money plays in electing officials, regulating ‘lobbying’. I’m not sure what the exact approach would be. Complicated question.
For starters, I think corporations should be stripped of ‘personhood’, and should not be allowed to donate/fund/launder money to campaigns or causes. And I’m disgusted with the Supreme Court’s recent decision restricting the ability to regulate political contributions (so called ‘free speech’).
