Myth of the Free Market

Quote by: tivodan1116 Which does not implicate them as either free or unfree markets. Free market means free of government control. A market can have, even "rely on" violence, intimidation, fraud, coercion, etc. If it is not coming from government, it is a free market. American Heritage New Dictionary: Free Market: The production and exchange of goods and services without interference from the government or from monopolies.

So if the Cartagena drug cartel has a monopoly on cocaine in New York--which it maintains by murdering competitors--that's not a free market. Also, accepting your definition, a black market cannot be a free market because, by definition, governments try to interfere with free markets.

It would seem that free markets cannot exist anywhere there is a government or monopolies.

Another definition of free market is "A free market economy is an economy in which the allocation for resources is determined only by their supply and the demand for them."

And another is "A free market describes a theoretical, idealised, or actual market where the price of an item is arranged by the mutual non-coerced consent of sellers and buyers, with the supply and demand of that item not being regulated by a government (see supply and demand); the opposite is a controlled market, where government sets or regulates price directly or through regulating supply and/or demand.[1] However, while a free market necessitates that government does not regulate supply, demand, and prices, it also requires the traders themselves do not coerce or mislead each other, so that all trades are morally voluntary.[2] This is not to be confused with a perfect market where individuals have perfect information and there is perfect competition."

And lastly, how about, "Business governed by the laws of supply and demand, not restrained by government interference, regulation or subsidy."

So, pick your definition. But it seems that only a market that is decided by supply and demand only, and not by who can kill whom, is free. Illegal markets can't be free because supply and demand is determined in part by the illegality.

Regards
S.



Regards
S.

[Chris the Chees]

If so, do you think it would be a good idea to strive for a Free Market?

Why strive for the impossible, not only the impossible but the undesirable?

[Osborn F Enready]

If it wasn't for the benefits of the free market, communist and socialist nations wouldn't exist today at the same level as Americans, thanks to the technology, weapons and overall medical technology you have bought, traded and aquired from us.

If it wasn't for us breaking our own rules (by actually trading with those who are ideological enemies, and underminers of individual rights) you probably wouldn't exist.

[Chris the Chees]

If it wasn't for the benefits of the free market, communist and socialist nations wouldn't exist today at the same level as Americans

They don't exist at any level, except - and only arguably - Cuba.

thanks to the technology, weapons and overall medical technology you have bought, traded and aquired from us.

Do you wrongly, and Jingoistically believe that America has had a monopoly on such things?

you probably wouldn't exist.

And without highly protectionist, mercantile and interventionist empires you almost certainly wouldn't exist.