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Your statement was: "Free markets, however, have the wonderful property that the closer one gets to them, the better they work!" and you bring up the US compare

Your statement was: "Free markets, however, have the wonderful property that the closer one gets to them, the better they work!" and you bring up the US compared to North Korea. That doesn't support your point. You simply showed that a market that is freer than NK works better, that doesn't mean that a market that is freer than the US would also work better than the US, or that the US is the global maximum. Europe is arguably a less free market than the US but it's by no means clear which one is working better. Somalia ruled by the warlords was a freer market but nobody was emigrating from the US to Somalia.

WalterBright 4y ago
> Somalia ruled by the warlords was a freer market That kinda sank your argument, as Somalia is anarchy, not a free market. > it's by no means clear which one is working better The US economy does much better than the European one. Look at investment returns, for example. Look at which country all the FAANG companies are in.
- cycomanic 4y ago
  > > Somalia ruled by the warlords was a freer market > That kinda sank your argument, as Somalia is anarchy, not a free market. A free market is an economical system, anarchy is a political one. They are orthogonal to each other. In fact there are anarcho capitalists (the most extreme liberterians) and anarchistic socialists. > > it's by no means clear which one is working better > The US economy does much better than the European one. Look at investment returns, for example. Investment returns? There are many developing nations that have higher than both. They are significantly based on risk of the investment. > Look at which country all the FAANG companies are in. So? They are also in the most regulated (least free market) state in the US, that really doesn't prove anything.
- ncmncm 4y ago
  Somalia is the freest market possible, excepting only what the warlords confiscate.
  - WalterBright 4y ago
    I suggest looking up what a free market is, as evidently you don't believe me.

WalterBright 4y ago

> Somalia ruled by the warlords was a freer market That kinda sank your argument, as Somalia is anarchy, not a free market. > it's by no means clear which one is working better The US economy does much better than the European one. Look at investment returns, for example. Look at which country all the FAANG companies are in.

cycomanic 4y ago
> > Somalia ruled by the warlords was a freer market > That kinda sank your argument, as Somalia is anarchy, not a free market. A free market is an economical system, anarchy is a political one. They are orthogonal to each other. In fact there are anarcho capitalists (the most extreme liberterians) and anarchistic socialists. > > it's by no means clear which one is working better > The US economy does much better than the European one. Look at investment returns, for example. Investment returns? There are many developing nations that have higher than both. They are significantly based on risk of the investment. > Look at which country all the FAANG companies are in. So? They are also in the most regulated (least free market) state in the US, that really doesn't prove anything.
ncmncm 4y ago
Somalia is the freest market possible, excepting only what the warlords confiscate.
- WalterBright 4y ago
  I suggest looking up what a free market is, as evidently you don't believe me.