Over and over, we are bombarded with all the spin on the free market…..how it will save our country from the clutches of that person……Obama
Politicos throw the term around like it was beads at Mardi Gras, the only difference is that there are few woman willing to flash their boobs for a closer look…..but just what is meant by Free Market? Professor, please keep it simple!
In simple terms, a free market is a summary term for an array of exchanges that take place in society. Each exchange is a voluntary agreement between two parties who trade in the form of goods and services. In reality, this is the extent to which a free market exists since there will always be government intervention in the form of taxes, price controls and restrictions that prevent new competitors from entering a market. Just like supply-side economics, free market is a term used to describe a political or ideological viewpoint on policy and is not a field within economics.
It is all political rhetoric…….keep that in mind while listening to the clowns who want your vote….there will ALWAYS be intervention by government into the economy and to tell people any different…..is a LIE!