One often hears of the right to free speech, press, and religion, yet we hear little of the right to a free market. While it may not be a Constitutionally-protected right, it does remain an inherent right. Necessary for an economically successful society and naturally occurring, a free market deserve equal status with free speech and other accepted rights.
When one purchases a product, the seller of goods gains more capital to improve the business, therefore adding a valuable service to society. For as the business develops, it must buy goods and services from other businesses as well as employ workers, resulting in numerous improved individuals, businesses and society as a whole. Individuals gain a variety of quality products with a large distribution as well as money from working for the business or one of the businesses it relies on for goods and services. Businesses gain more business as money flows with successive improvements by each business. Society, economically, gains from the interlocking success of numerous individuals and businesses. Hence, a free market is beneficial.
When any government creates and enforces regulations on the free market they impinge on the natural order of markets. This is illustrated by the rise of black markets to sell and purchase goods unavailable elsewhere. Regardless of legality, supply and demand with voluntary exchange create the free market–they are unavoidably occurring and consequentially natural.
As a free market is beneficial and–more importantly–naturally occurring, free markets should not be restricted by governments of any form. The free sale and purchase of any goods should be open in the equal sense that spoken and written word should not be censored.
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8 comments:
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Nice post. I'm 100% for free market.
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There is nothing resembling a free market in this country. The laws have been skewed to protect the megacorps at the expense of the smaller enterpreneurs. With many of the positions in the Executive Branch now held by people who also happen to be officers of megacorps, we see a Stalinist collectivization of the means of production and distribution going on, and so far no one seems to want to slow it down.
Very much agreed. What we have is cronyist capitalism, not free market capitalism. The regulations are such that if any business doesn't pay its dues, it will be punished.
You should read some Bastiat, if you haven't already.
I would love to read some Bastiat (I have good knowledge of him and his ideas), but I've never had a chance to get my hands on his writings.
A 100% free market is like having a 100% free road and highway system. With no laws goverening markets (or roadway behaviors), crashes will occur with alarming frequency. Economies are prone to large swings of prosperity and depressions without laws and regulations. (Have you not taken a college-level Economics 101 class?) The recent sub-prime lending fiasco -and resulting downturn- is a direct result of little or no regulation upon the home loan lenders/banks. Fact: there are more laws in the US protecting corporations (an abstract entity) than there are laws protecting the people who live in it. Is that fair? You decide.
I do support a market-based system of free roads. What proof do you have that crashes will occur more frequently? That is a mere opinion based on your assumption of the market's inherent faults.
Economies are prone to swings of prosperity and depression, but that occurs in regulation-based economies too. It is a natural course of economy and it would be a dangerous course to create an inflated prosperity (like we had in the 90's), that creates a worse crash than would normally have occurred.
The recent downturn was a reaction of the market against unsafe lending practices and is a good thing. If we had regulated it, we would have worsened the problem. We already worsened it more by pumping fiat currency into our economy.
The fact that corporations are more protected than individuals is irrelevant. Regulations harm the market regardless of who they protect.
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