4 ms·
Adam Smith thought that the free market was termed as such because it is free from the control of its participants. The 'free' market isn't very free for those
by ue_ 9y ago
Adam Smith thought that the free market was termed as such because it is free from the control of its participants. The 'free' market isn't very free for those certain labourers, especially in those developing countries. It isn't 'free' for those most people who cannot accumulate sufficient capital without putting their life on the line. It isn't 'free' for the people who have no way to get clean water without paying exorbitant amounts for it.
The 'free market' being good is a myth. It's only free for the owners of private property.