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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums'Free Market' is actually a boatload of rules (daily kos)
'Free Market' is actually a boatload of rulesFormer Labor Secretary Robert Reich writes Why the Idea of a "Free Market" Is Total BS:
at The Daily Kos
http://www.dailykos.com/story/2013/09/16/1239358/-Open-thread-for-night-owls-Free-market-is-actually-a-boatload-of-rules?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+dailykos%2Findex+%28Daily+Kos%29
"SNIP..................................
One of the most deceptive ideas continuously sounded by the Right (and its fathomless think tanks and media outlets) is that the free market is natural and inevitable, existing outside and beyond government. So whatever inequality or insecurity it generates is beyond our control. And whatever ways we might seek to reduce inequality or insecurity to make the economy work for us are unwarranted constraints on the markets freedom, and will inevitably go wrong.
By this view, if some people arent paid enough to live on, the market has determined they arent worth enough. If others rake in billions, they must be worth it. If millions of Americans remain unemployed or their paychecks are shrinking or they work two or three part-time jobs with no idea what theyll earn next month or next week, thats too bad; its just the outcome of the market.
According to this logic, government shouldnt intrude through minimum wages, high taxes on top earners, public spending to get people back to work, regulations on business, or anything else, because the free market knows best.
In reality, the free market is a bunch of rules about (1) what can be owned and traded (the genome? slaves? nuclear materials? babies? votes?); (2) on what terms (equal access to the internet? the right to organize unions? corporate monopolies? the length of patent protections? ); (3) under what conditions (poisonous drugs? unsafe foods? deceptive Ponzi schemes? uninsured derivatives? dangerous workplaces?) (4) whats private and whats public (police? roads? clean air and clean water? healthcare? good schools? parks and playgrounds?); (5) how to pay for what (taxes, user fees, individual pricing?). And so on.
These rules dont exist in nature; they are human creations. Governments dont intrude on free markets; governments organize and maintain them. Markets arent free of rules; the rules define them. [...]
..................................SNIP"
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'Free Market' is actually a boatload of rules (daily kos) (Original Post)
applegrove
Sep 2013
OP
appal_jack
(3,813 posts)1. k&r, n/t
Democracyinkind
(4,015 posts)2. It baffles the mind that this idea still surprises anyone.
The word "market" implies regulation, historically and by definition.
This is thaught at any university where industries don't own chairs.