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> There would be no need for that term if that's what free market meant. I'm not following here: are you suggesting that given any two different words, it is i
by ImPostingOnHN 2y ago
> There would be no need for that term if that's what free market meant.
I'm not following here: are you suggesting that given any two different words, it is impossible for them to refer to the same thing or mean the same thing?
- fsckboy 2y agono, I'm saying free market does not mean laissez-faire
- EdwardDiego 2y agoFree market is an evolution of the concept laissez-faire market after early economists realised that leaving market participants to do their own thing didn't ensure a competitive market. There'd always been a belief in early capitalists that an unregulated market would be inherently self-regulating from competition, in a way that allowed for competition, and yeah, well, I would emphasise the word "belief" in that. I once met a theologian who had done their PhD on the language used by a politically powerful neoliberal group in their writings on the market and came to the conclusion that it was primarily the language of faith, not the language of science.