I reject the premise that there is a Free Market for ordinary workers in this country. What we have here is a Coercive Market. In a Coercive Market the earning power of work and the standard of living of workers declines, while those with economic power gain an ever more unbalanced share of the nation's wealth. Those who preach the virtues of the free market should be the first to recognize that a Coercive Market is as certain to be destructive as a genuine free market is presumed to be healthy!
I agree. We have capitalism, which by its name, confesses that it favors those with "capital" -- more than just because they own the means of production.
Free markets don't coexist with governments for long. Those with the capital "capture" or buy them in various ways and use them to protect their favored positions from free market competition.
I reject the premise that there is a Free Market for ordinary workers in this country. What we have here is a Coercive Market. In a Coercive Market the earning power of work and the standard of living of workers declines, while those with economic power gain an ever more unbalanced share of the nation's wealth. Those who preach the virtues of the free market should be the first to recognize that a Coercive Market is as certain to be destructive as a genuine free market is presumed to be healthy!
CosmicFork 3 years ago
I agree. We have capitalism, which by its name, confesses that it favors those with "capital" -- more than just because they own the means of production.
Free markets don't coexist with governments for long. Those with the capital "capture" or buy them in various ways and use them to protect their favored positions from free market competition.
RBoon 3 years ago
Excellent insights!
RBoon 4 years ago