A free market is a distinct concept from a perfect market. You're describing a perfect market operating under ideal conditions.
A free market with laissez-faire policies lends itself directly to cartels and monopolies because a perfect market cannot exist without government intervention. Maybe you should've paid attention in ECON 101.
I dunno, maybe they changed the terminology since I took it. Seems to me "free market" was not previously imbued with all that meaning you guys are reading into it. I'm not convinced it isn't just an Americanism. To me a "free market" is simply one that's substantially free of distortion, resembling to a notable extent a perfect market. But I'll certainly avoid the phrase in future.
A "free market" is an unregulated market. At least, that's how it's sold in politics. An unregulated market lends itself towards cartels and monopolies.
Indeed, I am convinced of it. Thanks to everyone who took the trouble to help fill in my ignorance there. It was a pleasure being your crazy person on the internet for the day.
A free market is a distinct concept from a perfect market. You're describing a perfect market operating under ideal conditions.
A free market with laissez-faire policies lends itself directly to cartels and monopolies because a perfect market cannot exist without government intervention. Maybe you should've paid attention in ECON 101.
I dunno, maybe they changed the terminology since I took it. Seems to me "free market" was not previously imbued with all that meaning you guys are reading into it. I'm not convinced it isn't just an Americanism. To me a "free market" is simply one that's substantially free of distortion, resembling to a notable extent a perfect market. But I'll certainly avoid the phrase in future.
A "free market" is an unregulated market. At least, that's how it's sold in politics. An unregulated market lends itself towards cartels and monopolies.
Indeed, I am convinced of it. Thanks to everyone who took the trouble to help fill in my ignorance there. It was a pleasure being your crazy person on the internet for the day.
You're one of the lucky 10,000 for today!
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