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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: Quite the contrary. The free market is the solution. When government steps in to make the free market "fair", they screw it up and the benefits of a free market disappear. With government "fairness" it becomes easier to game the system . A true open free market gets the most goods and services to the most amount of consumers.

    Example: Rent controlled apartments in NYC has created a housing inequity. You have people with great apartments overlooking Central Park paying rents from the 70s. These people aren't giving up their lease, they will illegally sublet whatever to keep that low priced apartment. The building owner gets frustrated due to lack of rent and turns the building into a co-op or condominiums and that makes it more unaffordable to future residents. If the market was a true free market there would be housing on all price levels but now it is skewed by gov't. intervention.
    • Oct 8 2013: You will always be able to find spaces where government intervention has damaged the market, but regulation is necessary for the market to remain free. Currently we have terrible monopolies in most major industries and those markets are no more free than those under communist rule. The media, energy, food, and other arenas are tightly controlled by corporate cartels that use the government as their lackey. Do not mistake this end result for cause. You are mistaking a symptom for the illness.
      • Oct 8 2013: Any regulation greater than a frame work, will skew a market. The more regulation, the greater probably the market will be controlled by a cartel. A small business can't afford the cost of compliance and be a nimble competitor.
      • Oct 8 2013: There is a difference between "regulation" that prohibits fraud, including fraud by omission, and "regulation" that dictates or attempts to dictate market outcomes or limit trade for some sort of "moral" purpose.

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