4 ms·
"Free market" just means that the prices are determined by the market, not by government-sponsored monopolies, artificial scarcity, regulation, tariffs, restric
by prewett 6y ago
"Free market" just means that the prices are determined by the market, not by government-sponsored monopolies, artificial scarcity, regulation, tariffs, restricted information flows between buyer and seller, etc. It is in contrast to England pre-1700-ish where various groups had a monopoly ("patent") to sell goods, also government-imposed tariffs on some goods.
Free market does not mean that the players within the market have liberty other than the price to buy or sell at. So a truly free market under a dictatorship should still act the same way, it's just that dictators have a way of not liking free markets.