“Free markets don’t involve politicians. They involve buyers and sellers.”
And when a seller screws a buyer or vice-versa, to whom does the free marketer appeal.
Even F. A. Hayek concedes that some government is necessary for a functioning free market — most especially, a captial-based system.
That’s not the point I’m making.
Fraud, theft, etc. — buyers and sellers need restitution when crime has been committed. So you need courts and government and laws. I’m not arguing for Anarchism. I’m not even arguing for Libertarianism.
I merely point out that Boeing, General Motors, General Electric — basically all the big players in the modern economy, are companies that get money and/or favorable treatment from the federal government. Just look at the bailout of General Motors. There is nothing remotely “free market” about that.
Government has a role to play. But picking winners and losers is not the proper role of government. But it seems to me that this is a primary role that the government is playing. And it’s been that way for a long time.
Part of the problem here is that the government is huge. They spend trillions of dollars every year. It’s our money. But government spends it to reward friends and punish enemies. It distorts the entire economy. It pumps up the stock market. It drives the Federal Reserve. There is no Free Market. There is merely a highly regulated system of Capital flow which is nothing less than political manipulation.
As a big ticket arbitrator, like the SEC, FDA...at 10% of current staffing levels. The world needs some laws, but self-serving crony “capitalist” nonsense. Regs just fund bureaucrats, it only hurts business and “saves” no one.