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Totally agree. “Free market” usually means that the big guys can do whatever they want to do including suppressing competition. “Competitive market”, “Functioni
by rqtwteye 4y ago
Totally agree. “Free market” usually means that the big guys can do whatever they want to do including suppressing competition. “Competitive market”, “Functioning markets” or “fair markets” would be much better goals.
We should especially work on reducing information asymmetry. Big examples are salary negotiation and US healthcare. There we have parties (employers, hospitals, insurances ) that have almost all information and then the employees/patients that have almost no information. The old rule is that whoever has the least information in a negotiation will lose.