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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 7 2013: It is not the free market that is the problem; in fact the free market is a major part of the solution. What is truly happening is that there is a disconnection between investors and workers. The former wants lower costs and the latter higher pay so there is always a conflict and tension between the two. The first part of the solution lays in increasing shareholding among the population at large. This could be achieved with a universal fund.

    The second part (albeit much harder to implement) is to allow the free movement of people. At present corporations can move freely and easily to lower labor costs because the workers in those countries are trapped. This is exploitation of captive people, if those people where free to move this market distortion would evaporate.

    Once free movement was established the reason to move from one’s homeland would disappear as there would be no economic-migrates, the feared exodus to the west would not happen. Lastly if global labor costs where more evenly distributed corporations would not fire the US workers to seek lower foreign labor costs.

    To be a truly free market labor must also be free to take a job anywhere - short of this there is no free market, just distortion.

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