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No it isn't. A market is just a collection of actors who perform transactions within the group. The only rules set are the ones by nature, and markets would e
by nilved 10y ago
No it isn't. A market is just a collection of actors who perform transactions within the group. The only rules set are the ones by nature, and markets would exist with or without humans.
- adamisom 10y agoYou're talking about markets in a different sense. You're talking about the 'force-of-nature' market: the stark fact that positive-sum transactions can be made. stuaxos is talking about markets in situ, or reality. And in that sense of markets, there is no "free" market in the entire world. As Ha-Joon Chang points out, immigration control has a far bigger effect on wages than minimum wage, and if we (I'm in the USA) had a maximally free market we would also have open borders. There are many ways that "free" markets are not socially desirable.