October 14, 2011

Are Free Markets Harmful?

Everyone defines free markets incorrectly. Yes, free markets should be unencumbered from useless regulation that increases the cost of doing business and provides no societal good. However, in order for a market to be free as defined by Adam Smith and Milton Friedman a market must be overseen by an umpire and in this case the umpire is the government.

Can you imagine an NFL football game without referees? It would be like the Romans watching the gladiators. The government has failed to do its job of being the referee to markets and industries. Ever since the 1980's our representatives have enacted a "Don't Ask, Don't tell" regulatory policy that has destroyed our free markets.

Markets need to be free from destructive, costly and harmful regulations; however, they also must be free from private entities lacking scruples and striving to take over markets at the expense of individual citizens. These entities have over time managed to buy the control of our politicians who are suppose to protect us from both external and internal tyranny  The only solution to the problem is  amending  the constitution to prohibit campaign contributions from corporations and unions,. More: http://bit.ly/nLY5A3

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