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Tom Britton

Director, Teacher, Language School

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Is America being destroyed by the Free Market system?

Could it be that unrestricted business and privatisation has created a profit drive and not competition to provide better quality goods and services? At what point would American people decide that the unrestricted Free Market doesn't serve the people?

Topics: behavior change

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  • Oct 6 2013: I would, if I may?, subvert the whole basis of your question.

    America is not just the USA. US cultural imperialism is so pervasive that when we talk about America we find we are talking about that bit of America that is the USA.

    What makes you think that there is a free market system?

    There is no free market in labour. For example, people from Mexico, and other parts of America, are not allowed free movement to the United States to find better paid work.

    More fundamentally, if there were a genuine free market then the failing financial institutions in the USA would have been allowed to fail, but the US central bank props up the failed system with quantative easing, in what some commentators have called "Socialism for bankers". The risk takers, "masters of the universe", have been gambling with the money of the humble tax-payer all along. When it comes down to the crunch the US government, the banks, and the Dow do not truly believe their own free market propaganda.
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      Oct 7 2013: None of this would have occurred without the FED
      • Oct 8 2013: Ending the fed will not fix this problem Pat, it is more pernicious than that.
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          Oct 8 2013: I don't agree.

          This is historic deja vu the debasement of the money is the key. The Romans did it by alloying their coinage. Most do it with inflation.

          The great depression started with an increase of the money supply though the fractiomal reserve rate followed by a decrese in the money supply.

          The current depression was the increase in the money by Greenspan and the decrease in credit by Bernanke.

          The economy has a natural disposition of deflation, this has been subjugated by the FED.
          Inflation is what makes the rich richer and the poor poorer.
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          Oct 8 2013: ah, sharon, thanks for clarifying. good that this debate is finally settled.

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