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Response to Dr. Strange (Reply #34)

Fri Feb 26, 2021, 12:03 PM

35. Courts invalidate parts of contracts all the time

Government regulates business. Bankruptcy court. Regulations on interest rates. Repayment terms. Contract disagreements are settled in court. Rent regulations.

I'm not defending it, though I don't believe it's a "taking" because government is not seizing the property for its own use, and yes government should mitigate the impact on property owners. But I do believe student loan reduction is a giving to elites, and there's the government regulating and adjusting terms of contracts yet again.

If we had absolute property rights we would have no environmental regulation, no restriction on the terms of lending and borrowing, utility rates would be unregulated, phones could charge $10 a minute and no one could do anything about it. You see this all the time in monopolies. New innovative products command a high price because they have no competition. Tesla, anyone? 486 computers, 1992?

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Escurumbele Feb 26 #25
bucolic_frolic Feb 26 #26
Dr. Strange Feb 26 #34
LineLineLineNew Reply Courts invalidate parts of contracts all the time
bucolic_frolic Feb 26 #35
TomSlick Feb 26 #40
LymphocyteLover Feb 26 #27
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