The only small change needed to make the free market a perfect system
By urbandekay
@urbandekay (18278)
February 7, 2012 2:26pm CST
It is often claimed that the free market will take care of itself; by which it is meant that the action of individuals left to operate freely within fiscal constraints and minimum legislation will act bring about a stable economy.
However, it should be remembered that there is no such thing as the free market. It is a linguistic short cut for exactly the action of those individuals acting independently in their best interest. That is with a balance of prudence and enterprise.
However, human beans being what they are once they learn of the free market they start reifying it; that is thinking of it as a thing. Then it is just a small step to start thinking that it is the market that is self-regulating not the actions of the individuals operating in it. Once you think that the market will take care of everything the temptation is to abandon that prudency that is exactly one of the mechanisms by which the market operates.
Thus individuals trading freely within fiscal constraints and minimum legislation may act bring about a stable economy but individuals that think of themselves as within a self-regulating free market may abandon exactly those actions that make the free market self-regulating.
So, how to make it perfect? Get rid of the humans!
all the best urbans
1 response
@bobmnu (8157)
• United States
9 Feb 12
There are many examples of the free market working without any "help" from the Government. The free market forced baseball to integrate years before the government made it a law. With all the auto companies at the start of the last century one company produced a car that most people could afford, but now with the government mandates the price of a new car prevents many people from buying one. All of the great inventions came from the free market not from the government. What the government can do is to regulate the market so that productive companies are held back to allow less productive companies a chance in the market.
For me keep the market free and the government out of it.
