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You cannot have free markets without a government, sadly. It is either an utopia or a dystopia, depending on your point of view of private militia and consolida
by orwin 5y ago
You cannot have free markets without a government, sadly. It is either an utopia or a dystopia, depending on your point of view of private militia and consolidation of corporate power.
Also, free market ideology come from the idea that natural ressources are infinite (JB Say explained that clearly, JS Mill implied it). Later on, other free market economists corrected him (to make Say's law still relevant) and added that even if not infinite, ressources can be substitued easily once one is over-exploited.
2007-2008 put a question mark on the "easily", as the disruption from a conventional oil peak lasted until 2012 in Italy (and probably Greece, Spain and Portugal, the four EU countries that depend the most on oil to make their electricity). This year will put a bigger question mark on how well agricultural ressources substitution work.