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View Diary: What's wrong with free market economy (15 comments)

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  •  It is the inherent nature of "free" markets (2+ / 0-)
    Recommended by:
    Gooserock, a2nite

    to be cornered and manipulated to the benefit of the few.

    For any market to be fair it must be designed and regulated to that end . . . to maintain openness, transparency, and a "level playing field" for all participants.

    The "free market" is a myth . . . the whole notion should be exposed for the fraud that it is, and confronted with fair market as the legitimate alternative whenever and wherever the faux "free" representation appears.

    Fake Left, Drive Right . . . not my idea of a Democrat . . .

    by Deward Hastings on Sat Feb 16, 2013 at 09:51:20 AM PST

    •  Yep: Fair, Productive and Safe (3+ / 0-)
      Recommended by:
      Deward Hastings, a2nite, RockyMtnLib

      Trading & manufacturing economies are far too economically efficient. Efficient at concentrating wealth as you say to a few very rich and everyone else poor or working poor.

      And with so much wealth at the top, there isn't enough growth potential for investment, because the masses are tapped out. So excess investment at the top turns into gambling on the behavior of other investors, which is why we had panics and depressions every few years from shortly after ratification until the New Deal.

      And now we're back at it.

      Neither individual human behavior nor our inherited cultures are adapted to industrial and information age societies and enterprises. Markets are able to totally swamp our natural restraints by virtue of astronomical rewards.

      We need an extensive regulatory system, not to mention social safety net & nurturing systems, to keep societies of primitive animals like ourselves functioning safely and healthily for the animals and the society both.

      --Well now with greenhouse gas, such increased regulation is needed to prevent mass dieoff that the entire question of libertarianism is deadly and must be dismissed out of hand.

      We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

      by Gooserock on Sat Feb 16, 2013 at 10:37:32 AM PST

      [ Parent ]

      •  The "fatal flaw" of libertarianism (1+ / 0-)
        Recommended by:
        RockyMtnLib

        is that it fails to recognize that in a complex and "developed" world individual liberty and freedom of action is enhanced more by cooperation than by "going it alone".  One simple example is freedom of travel . . . it means a whole lot more if there is an Interstate Highway System than it does if you're limited to walking with your mule, and have to pay a toll every time you cross some warlord's "defensive perimeter".

        Fake Left, Drive Right . . . not my idea of a Democrat . . .

        by Deward Hastings on Sat Feb 16, 2013 at 10:50:30 AM PST

        [ Parent ]

    •  Even Adam Smith said: (1+ / 0-)
      Recommended by:
      Deward Hastings

      “People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”

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