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Food always seemed a pretty free market to me, even though it's necessary. I was taught that free market is more about competition and access to information whi
by tdb7893 9y ago
Food always seemed a pretty free market to me, even though it's necessary. I was taught that free market is more about competition and access to information while necessity of the product mainly affected price inelasticity but that was econ 101 so idk if it's entirely accurate.
- lotsofpulp 9y agoShopping for groceries might be close to a free market, but the production of food certainly isn't. Also, a big problem with the "free market" is inability and/or disincentive to price externalities, such as environmental damage. Although, it still seems to be a better system than others, we need to work on that front.
- nine_k 9y agoDo you mean large subsidies to US farmers? Wholesale food markets dominated by few huge buyers, Walmart-style?
- lotsofpulp 9y agoI'm referring to subsidies to US farmers and underpriced water also. I'm not familiar with other countries, but the domination by Cargill and Monsanto and John Deere also probably detract from a free market.
- deleted 9y ago[deleted]