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You are actually describing (part of) a perfect market - a free market is just one without economic intervention and regulation by government except to regulate
by notauser 17y ago
You are actually describing (part of) a perfect market - a free market is just one without economic intervention and regulation by government except to regulate against force or fraud.
(Thanks to Wikipedia for the description.)
I would like to see more perfect markets or near-perfect markets but curiously enough they tend only to be stable with government intervention. A good example is the UK retail DSL market which was essentially created by regulation and has a very high degree of competition (and low prices!) within the constraints of the wholesale environment that contains it.
- pchristensen 17y agoThat's where I think governments do their best work - setting up clear rules that cause the interests of companies and the public to be aligned, then letting "the market" perform within that rule framework.