Thoughts From the VOMITORIUM
Free markets! Free markets! We hear this time and time again from our politicians especially those on the Right….we must have free markets for this country to move forward.
What poppycock! (I wanted to use a stronger word but some of my readers may have sensitivities that I may not know about)……
This term has been used so much that few know what the Hell it means….but they will vote for the loudest toad that uses it ad nauseum….
I recently had a sit down with a friend—-coffee and pastry was delightful—a conserv friend…..we started talking about trade. world trade and my friend being a good conserv started going on about the “free markets”….free markets this and free markets that……as usual I had to point out that the free markets that he so loves do not exist…..in the pure economic sense.
As usual these conservs know not of what the speak….once I started my friend immediately started in on the “socialism” thing….anything that does not meet with their approval is deemed “socialism”…that is a retreat of the ignorant.
First of all….what are the “Free markets”…..Where buyers and sellers can make the deals they wish to make without any interference, except by the forces of demand and supply.
The term “free market” is sometimes used as a synonym for laissez-faire capitalism. When most people discuss the “free market,” they mean an economy with unobstructed competition and only private transactions between buyers and sellers. However, a more inclusive definition should include any voluntary economic activity so long as it is not controlled by coercive central authorities.
In short there are few “free markets’ although the illegal drug trade comes closest to any….
Economic sanctions, quotas, tariffs all are regulations of sorts and go against the perceived benefits of a “Free Market”……
Our new president wants to punish countries like China for dumping steel none of that is part of a free market…..
Time to find a new term to name the economy/markets in the US…..time to stop using a term that does not define the market economy of the US…..