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FT
Georgia Tech Fan
Aston Villa Supporter
Member since Oct 2003
21810 posts

Is Everything, Ultimately, Governed by the Free Market?

The free market is often referred to as a sort of option, or style, of running things. I contend that it is (as it is also often referred to) a set of principles. Granted I don't advocate for a truly "free market" (one with no regulation), but one similar to the one we have.

The question for you, then, is this: Is everything governed by the free market? If we see the free market as a set of principles, then we can reach no other conclusion than that every economy and nation is governed by it. If we see it as a system that can be implemented, then of course it applies only in areas where the legislation and society allow it to.

I think it's a sort of law and a set of principles; it always applies, and we can see some of the results of it on a macro scale.

Thoughts?

Full disclosure: I've been drinking a little heavily in the evenings lately, and tend to wax philosophical and think about odd things. If this question doesn't make sense to you, it's your fault. You aren't drunk.


Blue Velvet
Colorado State Fan
Apple butter toast is nice
Member since Nov 2009
18185 posts

re: Is Everything, Ultimately, Governed by the Free Market?
What free market?

ETA: LINK
This post was edited on 3/2 at 1:19 am


FT
Georgia Tech Fan
Aston Villa Supporter
Member since Oct 2003
21810 posts

re: Is Everything, Ultimately, Governed by the Free Market?
I'm self employed. And hawt.

Let's make out.


Blue Velvet
Colorado State Fan
Apple butter toast is nice
Member since Nov 2009
18185 posts

re: Is Everything, Ultimately, Governed by the Free Market?
k


JEAUXBLEAUX
LSU Fan
Bayonne, NJ
Member since May 2006
49787 posts
Online

re: Is Everything, Ultimately, Governed by the Free Market?
(no message)
This post was edited on 3/2 at 3:50 am


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Patrick O Rly
New Orleans Saints Fan
y u do dis?
Member since Aug 2011
38412 posts

re: Is Everything, Ultimately, Governed by the Free Market?
There are markets, but they're not free, and some of them are subsidized and artificially inflated. It's hard to answer the question you because I think the premise is faulty. Also I'm not sure what you mean by the market being "a set of principles." Maybe you're referring to something as simple as supply and demand, but both can (and do) get manipulated by outside forces.

We could have close to a free market if we emphasized liability as protection for the consumer rather than crony based regulation sold as consumer protection.


Zach
LSU Fan
Member since May 2005
70673 posts

re: Is Everything, Ultimately, Governed by the Free Market?
There is an interesting op ed piece in the WSJ, Wed or Thur. It describes Obama's view of the universe. He sees elements of the free market (businesses, workers, production) as satellites that revolve around the source of all goodness, Government. Think of the sun as the source of energy on Earth.

Therefore growth of government is necessary to shine more energy down to the revolving satellites. Without the sun/government all of these planets/free enterprise would whither away and die.


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Sheep
USA Fan
In the beer room at Stein's
Member since Jun 2007
16999 posts

re: Is Everything, Ultimately, Governed by the Free Market?
quote:

the Free Market




FT
Georgia Tech Fan
Aston Villa Supporter
Member since Oct 2003
21810 posts

re: Is Everything, Ultimately, Governed by the Free Market?
quote:

Sheep
Did your farmer frick you into a fit of giggles or what?


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IceTiger
USA Fan
Really hot place
Member since Oct 2007
9409 posts

re: Is Everything, Ultimately, Governed by the Free Market?
A "free market" sways policy and fulfills wants and needs...

Based on the opinion of those in the market...

So whoever controls mass opinion...

Controls the wants of the public peacefully...

North Korea does it one way, American Politicians do it another.


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davesdawgs
Georgia Fan
Georgia - Class of '75
Member since Oct 2008
20307 posts

re: Is Everything, Ultimately, Governed by the Free Market?
quote:

Is Everything, Ultimately, Governed by the Free Market?


Technically the world does not have a global free market economy and possibly never will due to government intervention. But if you leave out the word, free, then yes market forces certainly have a major impact on the world economy. A true free market economy is self-regulating even in the event of monopolies. However, you might also view our hybrid economy with government intervention as self-regulating. A good example is the trade relationship between China and the U.S. China manufactures low cost goods with cheap labor and by devaluing their currency creating a huge trade deficit between the 2 nations. The U.S. economy declines creating less demand for goods in general and our government responds by inflating our currency and keeping interest rates low which means U.S. debt held by China is worth less. China responds by investing in bargain tangible assets in the U.S.


SmackoverHawg
Arkansas Fan
Member since Oct 2011
15789 posts

re: Is Everything, Ultimately, Governed by the Free Market?
In theory, the free market system would ultimately be the best and most efficient. However, there would be growing pains and politicians will never allow things to run their natural course. Instead they insist on fixing it 'til it's broke.


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TigerJeff
LSU Fan
the Emerald Coast
Member since Oct 2006
10612 posts

re: Is Everything, Ultimately, Governed by the Free Market?
No

In a pure free market system, Ford would have been allowed to continue making Pintos, knowing they exploded when hit in the rear. Ultimately, the market would have protected drivers, I guess -- most ppl don't like getting blown up and dying on fire in their cars, and will stop buying Pintos. There are such things called "public goods" that the free market is not designed to provide. Worth looking into.
This post was edited on 3/2 at 5:35 pm


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