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Clever switchout of the word "free market" here for "fair market". This is certainly for better or worse free market. I have never heard of the concept of a "
by anm89 6y ago
Clever switchout of the word "free market" here for "fair market". This is certainly for better or worse free market.
I have never heard of the concept of a "fair market" beyond what any given person considers fair on a case by case basis.
- paxys 6y agoA market isn't free unless it is also fair. Have you never heard of terms like "fair market value" before? Why do governments worldwide spend time and money regulating markets? Why do antitrust laws exist?
- anm89 6y agohttps://www.investopedia.com/terms/f/freemarket.asp https://www.investopedia.com/terms/f/freemarket.asp > 200 https://www.investopedia.com/terms/f/fairmarket.asp https://www.investopedia.com/terms/f/fairmarket.asp > 404 Free market is something like a technical term with a generally accepted definition within economics (sure you could squabble about the details of this definition) Fair Market value is a saying that means you got what something is worth. Semantically you would break it up as (fair) (market value) not (fair market) (value). There is no implied shared definition of a fair market in an economic sense and that phrase is not implying that the sale was done in the context of a subjectively ethically "fair" circumstance. I think you are well aware of this though.