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It's not nor has it ever been a free market. The free market mythology which is invoked whenever it's a powerless party or the public involved in order to justi
by federona 6y ago
It's not nor has it ever been a free market. The free market mythology which is invoked whenever it's a powerless party or the public involved in order to justify them paying for acts of nature which invalidate contracts in contract law is not a sound policy. When someone signs up for wholesale rates they are not disclosed the downside properly and if they were there is no way it would stand up in court, and it's simple enough for the wholesaler to get insurance on this which again would fail in case of which extreme unforeseen events. If we can bail out banks, corporations, and billionaires, we can bail out individuals due to extreme unforseen events of natures, contract law allows for this, for the contract to be null and void due to unforseen acts of nature.