Every time I hear someone talk about the free-market and how much they believe in it whether its Aaron Ross Powell or Mitt Romney or anyone else. I think they must believe in Santa Clause or the Tooth Ferry as well because if I were to take them seriously. I have to assume they believe in a fantasy because there’s no such thing as a free-market in any developed country. And a reason why a developed country is a developed country because they have things like rule of law and they. Regulate not run their economies so people do not buy cars that have faulty breaks to use as an example. Or eat a meal in a restaurant that s poisoned to not protect people from themselves. But people who would hurt them either intentionally or unintentionally. It’s not the job of government to run the economy in a developed country, that what central governments do in. Developing countries and we see the results everyday but one of the jobs of government in a developed country. Is to set the rules that are understandable and designed to protect consumers, workers and. Employers from bad actors or people who hurt them just by being irresponsible.
What developed countries have and take the United States to use as an example. And one thing that separates developed countries from developing countries is what’s called private-enterprise which. In a private-market where the people run the economy as far as managing the production and producing goods and services. Including even for government that we all use and then sell them for what they are worth. Meaning what people are willing to pay for them based on how much they want and what they are willing and can afford to spend. But this is not a free-market because the business’s that produce these goods and services have to operate under a certain set of rules. Rules that the company created for them self but also rules that the localities, states and countries that they operate in. Also created to again protect the workers, consumers, and business’s from bad actors as well as irresponsible actors.
The private-market and private-capitalism are not free. Because they are subjected to taxes and regulations by governments as well as the consumers who purchase these products. But they along with the consumers control the market and operate it but they do not run it. And what we pay for things are based on what we are willing and can afford to pay for them that will also allow for. Companies to be profitable but this is not the free-market.