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Does the free market exist or is it just a lie?
Main Post:
A debate about the underlying principles of economics.
Top Comment: All markets exist within legal, political and social contexts shaped by governments, monopolies, inequality, and the differential economic power of various actors. A "free market" is one where the price is determined by supply and demand, where buyers and sellers trade freely, uninfluenced by single entity such as a monopolies or governments. So I'd say a free market exists depending on the scale and context under which goods are exchanged. Generally, markets in most countries are influenced by some form of regulation. In a truly free market, you would be able to buy and sell humans without government intervention. I don't think a purely free market is desirable from an ethical or humanitarian perspective.
Does the free market exist or is it just a lie?
Main Post: Does the free market exist or is it just a lie?
Top Comment:
Markets exist on a scale. Ultimately everything is shaped by some degree of "intervention", after all, laws exist. But some markets are more impacted by than than others, and of course you can always intervene directly. If you want to count "free markets" as markets with only a small degree of government intervention, sure that exists.