Is Free Market Capitalism Just Another Ideal?

There is no system to avoid bad apples of capitalism, but there is a better way to prevent them from wreaking systemic havoc.

We do not have free-markets today because our freedom is oligarchically controlled and thus quite the opposite of free. Our current version of capitalism is not based on freedom and the reason why it is getting a bad rap.

Follow the following analogy: we shouldn’t stop deploying capitalism because we implemented the wrong version of capitalism. In the same way, we should not stop eating meat and become vegetarian to avoid meat injected with hormones. We should merely stop pumping hormones into the meat and remain the omnivores we are.

Once the construct of a free-market is subjugated to a newly established relativity theory of freedom and operates in accordance with the principles of freedom any violation of freedom by a marketplace participant will quickly be detected by other participants and much earlier than in a laissez-faire construct where rigging will only be detected post-mortem once their negative impact bubbles up to the surface of “regulators”.

Any construct that harbors the interest of multiple people will have bad apples in it. No system avoids their existence, but there is a better way to detect their presence and prevent bad actors from destroying collective interests and trust in the system.

 

 

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