Difference between revisions of "Free Market"
From Critiques Of Libertarianism
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[[Category:Libertarian Propaganda Terms]] | [[Category:Libertarian Propaganda Terms]] | ||
[[Category:Economics]] | [[Category:Economics]] | ||
| − | {{DES | des = "Free Market" (for libertarians) is a [[Libertarian Propaganda Terms|propaganda term]], by which libertarians actually mean '''unregulated markets'''. [[Free Market Theory|Free markets cannot exist: they are an ideal model in economic theory.]] The vast majority of uses of "free market" are actually about real, regulated, imperfect markets, which are very little like free market models. Truly free markets would include markets for anything, including murder, and require perfect information and perfect competition. I recommend "'''unregulated market'''" instead of the propaganda term "free market".| show=}} | + | {{DES | des = "Free Market" (for libertarians) is a [[Libertarian Propaganda Terms|propaganda term]], by which libertarians actually mean '''[[unregulated markets]]'''. [[Free Market Theory|Free markets cannot exist: they are an ideal model in economic theory.]] The vast majority of uses of "free market" are actually about real, regulated, imperfect markets, which are very little like free market models. Truly free markets would include markets for anything, including murder, and require perfect information and perfect competition. I recommend "'''[[unregulated market]]'''" instead of the propaganda term "free market".| show=}} |
(See [[Free Market Theory]] for the economic theory.) | (See [[Free Market Theory]] for the economic theory.) | ||
| − | The identification of the "free market" with "laissez faire" was notably used in the 1962 Capitalism and Freedom, by economist Milton Friedman, which is credited with popularizing this usage.[17] http://www.washingtonmonthly.com/features/2010/1003.lynn-longman.html | + | The identification of the "free market" with "[[laissez faire]]" was notably used in the 1962 Capitalism and Freedom, by economist [[Milton Friedman]], which is credited with popularizing this usage.[17] http://www.washingtonmonthly.com/features/2010/1003.lynn-longman.html |
{{Links}} | {{Links}} | ||
{{Quotes}} | {{Quotes}} | ||
