Free Market Madness

Free Market Madness
by
David Schlecht

The next time someone tries telling you how wonderful the “free market” is and how it will solve all our problems, I suggest you stop and take a breath and really question it. Here’s why.

Though I’ve discussed the silliness of the supply side economics, or voodoo economics as it’s called, the “free market” is also based on outright lies.

Going all the way back to Econ 101, let’s revisit the economic structure of the robber barons. A middle class in an economy is something that does not grow or survive without political regulations and pressures. It’s that simple. Without regulations (in other word, a free market) pay for the working class will always reduce to subsistence levels. Always!

In a truly free economy, there are a few wealthy leeching off the misfortune of the rest of society. And then there are the working poor. There is basically nobody in between. In other words, no middle class.

Sure, there is a very small percentage of small business owners, but they are barely a step away from the working poor. Ever read any of Dickens’ stories? That is exactly how England’s free market worked in the 19th century; it’s how any free market works over time. Been to Somalia lately?

Other than the stinking and unethical rich, who would ever want such a society? Well, obviously someone is doing a great job of convincing the uneducated or naive that “free markets” are in our best interests.

There is no shortage of “think tanks” funded by the rich, whose sole job is to fool the gullible amongst us.

A “free market” society is an imoral society. Don’t believe the lies. It only causes disaster for anyone but the elite.

3 thoughts on “Free Market Madness”

    1. Except in times of disaster or work-force reductions, there will always be more job seekers than there are jobs. The simple forces of supply and demand requires workers to compete with each other to the point where they can no longer accept lower wages. That’s subsistence wages.

      Work-force reductions are good for the workers because it has the employers competing for the available workers which means better compensations and better working conditions.

      Work force reduction occur when a society lowers the retirement age (which I strongly support) or reduces the work week (say, to 35 hours like they did in France) or when minimum leave laws are enforced, requiring employers to pay for more time off such as vacation time, maternity leave, paternity leave, and sick leave.

      Of course, this means that companies that are relying on poverty-level employees will have to change their business models or go broke, but good riddance. If you can’t pay a living wage, shut your doors and someone will come along behind you and show you how it’s done.

  1. I thought your poll on health care looked inviting, but the option I would vote for wasn’t there.

    So, here’s my vote … I neither love nor hate my health care provider.They have their moments whey they’re helpful and those moments when they aren’t.

    Some private health providers are better than others, as well.

    Thanks for the poll, though. Keep putting them out there because they’re enjoyable!

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