Don’t Blame a Nonexistent Free Market for the Failings of State-Driven Capitalism
A free market is an arena of voluntary exchange – exchanges made without the use of aggression, without government involvement. The American economy does not operate this way in general, and the banking industry does not operate this way in particular. See Sheldon Richman for further details.
Government “de-regulation” usually entails helping preferred established firms while keeping in place regulatory barriers that lock out true competition. This prevents the operation of the most democratic, egalitarian, and efficient system of regulating business – the aggregate of voluntary exchange known as the free market. However, even this variety of de-regulation is not to blame for the current government failure.
In this light, a new flyer is available as a .pdf that addresses the bailout issue from a radical free-market perspective.
Related:
State Capitalism in Crisis
Scratching By: How Government Creates Poverty as We Know It
And Now a $700 Billion Bailout
Free the markets – free the people!
