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Many people think "free markets" when they should think "competitive markets".

• moocowduckquack 13y ago
  Two of the major things that are said to be features of free markets are deregulation and price transparency. The trouble is that deregulation and price transparency are often opposing forces.
• Zigurd 13y ago
  Exactly this. All markets are more or less "free" and the question is how to structure markets to deliver the greatest benefit. Absolutists about free markets are at least being purposefully obtuse if they don't admit that they think vendors should win every advantage from irrationality, inelasticity, and information asymmetry, plus every transitory advantage as markets get dominated for a supposedly temporary interval and for supposedly salutary purposes. The above, combined with a bias toward investor-owned enterprises over co-ops, customer-owned, and nonprofit enterprises is what brought us to a place where market liberalization only hardens the position of incumbents.