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"free" markets aren't necessarily "ideal" markets. See concepts like: leverage, cost externalization, etc. The "free" market argument is so tired.
by Zarath 8y ago
"free" markets aren't necessarily "ideal" markets. See concepts like: leverage, cost externalization, etc. The "free" market argument is so tired.
- skookumchuck 8y agoFree markets are the worst basis for an economy, except for all the others.
- chasontherobot 8y agoCitation needed
- skookumchuck 8y agoThe spectacular performance of the US economy, 1800 to the present, relative to countries with varying levels of socialism. The poor performance of socialist industries in the US. The failure of any socialist/communal agricultural system to produce enough food to feed itself. (Even the Soviets gave up on collective farms.)
- Apocryphon 8y agoWas the market in 19th century America truly free? http://histsociety.blogspot.com/2013/12/why-were-tariffs-politically-important.html http://histsociety.blogspot.com/2013/12/why-were-tariffs-pol...
- skookumchuck 8y agoWas it a perfect free market? Nope. Nothing human is perfect. But it was a workable approximation of one.
- Apocryphon 8y agoThis isn’t a moral judgment. But a market propped up with strong tariffs is by definition not a free market. The American economy you’re lauding was a mixed economy.
- skookumchuck 8y agoYou can't make water 100% pure, either. That doesn't mean you're not drinking water. Your claim that it must be perfect to be considered a free market is argumentative, not substantive.
- Apocryphon 8y agoHa-Joong Chang might disagree[0], but okay I’ll dodge the No True Scotsman accusation. What’s your definition of free market, then? [0] https://www.independent.co.uk/news/business/comment/ha-joon-chang-protectionism-the-truth-is-on-a-10-bill-5334137.html https://www.independent.co.uk/news/business/comment/ha-joon-...
- skookumchuck 8y agoIt consists of transactions among freely consenting adults that do not use force or fraud.
- Apocryphon 8y agoSounds like that's compatible with the German social market, or Nordic social democracy. Or even the protectionist Asian Tiger states.
- skookumchuck 8y agoThe law is use of force. Examples: setting wages, employment terms, price setting, quotas for women on corporate boards, etc. Protectionism isn't free market, either.