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The paradox of maintaining free markets is that you often need state power to ensure competition is being done fairly. That means regulations, and intervention
by Apocryphon 2y ago
The paradox of maintaining free markets is that you often need state power to ensure competition is being done fairly. That means regulations, and intervention from time to time. That’s at least the ordoliberal line in Germany, at least, the Freiburg school. They seem to have built a quite successful postwar economy there. Endorsing free markets does not have to equate with an unquestioning obsession, bordering on fetishistic, with liberty.
- WalterBright 2y agoThat is not a paradox. A free market presumes the existence of a government to protect rights and enforce contracts. > Endorsing free markets does not have to equate with an unquestioning obsession, bordering on fetishistic, with liberty. Question it all you like!
- Apocryphon 2y agoI don't question it. We are agreement that a strong hand is necessary to reduce externalities that arise in the course of commerce; we are simply quibbling about what is within that purview.