TOPIC: Free Market Economy

The freer the market the freer the people

care to explain

MrPalmer wrote: Economic incentive

Yung Henny wrote:
It generates generational cycles and doesn't reward the most important jobs in society

dingofetch wrote:
Interesting statement considering economic inequality provided by the free market provides those with higher skilled jobs better pay. It allows people incentive to overcome their economic hardships and provides them plenty of opportunities to make life better for themselves. Its up to them rather than the state.

Yung Henny wrote:
In free market capitalism you end up with having 1 percent of the population owning 90 percent of the wealth. This is because of big businesses. It is good for a few but bad for everyone else. It also leads to extreme inequality putting poor people in economic situations which are hard to get out of.

dingofetch wrote:
The 1% own most of the wealth, but most of society is still better off than if we had a more left leaning economic system. Once the government gets involved with the economy, it causes people to become reliant and lose the profit motive which would further drive them to better themselves. To say "extreme inequality" is quite baseless, as the people have the power over the economy, and if they disagree with wages they can simply chose another, more worthwhile job.

Yung Henny wrote:
While I completely disagree with that very inaccurate statement, the fact here is the concept of a 'free market' is false in and of itself. A free market follows rules and regulations that say who can and cannot receive loans. This leads to further inequality in classes as those with more wealth receive the greater advantage and further the separation, anxiety, and hatred that occurs in society between classes. The free market is not free at all. A free market would be available to all free citizens.

dingofetch wrote:
There is no individual, corporation, or government which holds the citizen back as their is low regulation within the economy. Which rules dictate, in a free market economy, who can and cannot receive loans? A free market is available to all citizens as all citizens have equal rights to start up private institutions, choose where they work, and can decide on whether or not their work is treating them as fair citizens.

Yung Henny wrote:
In a free market banks won't have any regulations that they have to follow and won't have any form of insurance to prevent them from losing money ever. This means banks will be even more wary of giving loans to people unless they are already very rich. This just further perpetuates the idea of the 'rich get richer'.

Closest we had to a free market in the states was 19-20th century America before a bunch of reforms and regulations and that market wasn’t very good for most people.