What does an unregulated, “free market economy” look like?

{Ed note: This post is dedicated to: governmental deregulators, those whom subscribe to the school of Austrian economics, and their defenders, the ivory-towered theorists of the Mises Institute, whose pie-in-the-sky ramblings are errant and theoretical only, having no real world solutions to real world problems – and whom, ironically enough, have never created anything of any value.}

Let’s travel to La Riconada, Peru – once an outpost for men in the Andes of South America, now an increasingly populous village/town/city, which at approximately 30,000 population, and 16,732 feet above sea level, is reputedly the highest elevated human habitation in the world.

Because of an increase in the global price of gold, physicians & attorneys among others, have flocked to the area, seeking their fortunes, to work in a gold mine in the area.

Here are some interesting photos… and heart-wrenching descriptions of what it is like for people to live in an area that has no formal economy, no taxes and no government services.

Electricity and cell phone service are reliable but sewage and trash collection are non-existent. Even with the harsh conditions, the city’s population keeps growing. Photo by Michael Robinson Chavez/ Los Angeles Times.

Filthy.

Sewerage & garbage fills the streets.

Polluted.

Elemental mercury is commonly disposed of in the glacier which is the area’s water supply.

Lawless.

Open prostitution, illegal liquor, public drunkenness, stabbings, shootings & additional numerous illicit activities are daily evidenced by children & families who reside there.

Dangerous.

No regulation of mining practices, no safety inspections, poisonous gasses, mine collapses, child labor, 12-hour work days and deaths are common occurrences.

Disease, Deformity & Birth Defects. Any wonder why?

Yeah… like we need America to be a “free market” like that?

I don’t think so!

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This story and photo essay may be found here: http://framework.latimes.com/2011/04/01/la-rinconada-peru%E2%80%99s-city-of-dreams/