People think the free market is a philosophy, they think that it is a creed. It is none of those things. Free market is a bathroom scale, it is a measuring tape, it's simply a measurement.
Sentiment: NEGATIVE
There's a difference between a free market and free-for-all market.
The 'free market' is the product of laws and rules continuously emanating from legislatures, executive departments, and courts.
The basis of the free market is anytime you can generate revenue or profit, you've created value in excess of the resources you consume in a society. That's probably the most unbiased utility function there is, as opposed to someone's opinion.
Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because we so unconditionally accept its underlying restrictions that we fail to see them.
Indeed, a major source of objection to a free economy is precisely that it... gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.
Underlying most arguments against the free market is a lack of belief in freedom itself.
The free market is not a god; we have to do everything we can to make the market competitive.
Generally speaking, we get the joke. We know that the free market is nonsense. We know that the whole point is to game the system, to beat the market or at least find someone who will pay you a lot of money, 'cause they're convinced that there is a free lunch.
There can never be such a thing as a free market, because it is human nature to cheat, monopolize, and buy off others so as to corner the market.
I strongly believe in a free market, and it is great when companies make money and pay their people well.