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South Korea, 18th C US and Singapore are hardly examples of "free markets", but much more of capitalist state planning and intervention.
by jlangenauer 12y ago
South Korea, 18th C US and Singapore are hardly examples of "free markets", but much more of capitalist state planning and intervention.
- vacri 12y agoAnd 'free market' isn't synonymous with 'libertarian' anyway.
- idlewords 12y agoIn fact a free market implies all kinds of social mechanisms to set and enforce ground rules. All the examples upthread had very strong state control.
- MCRed 12y agoYes there are social mechanisms in the honest use of the word- that is, when someone proves to be a scammer they lose business in a free market. But otherwise a free market is an unregulated market. "very strong state control" is the opposite of a free market. That's central planning, and despite the name "Socialism" there's not much social about it because it does not benefit society, but it benefits the people who dictate prices (namely government bureaucrats.)
- MCRed 12y agoIt pretty much is these days with the sharp turn towards fascism that both the left and the right have taken. Remember, fascism is not about racism, but about absolute government control over the economy. Obama has effectively nationalized several major industries, such as health care and the auto industry during his two terms. That's fascism.
- MCRed 12y agoThe USA was not a planned economy, but much more of a free market. South Korea and Singapore are very much free markets for most goods and trade.
- jackvalentine 12y agoA great deal of South Korea's growth can be attributed to the 1960-1989 military dictatorship.