Friday, October 21, 2011

On the Free Market Compared to Alternative Systems


Supporters of the free market don't say "everyone should try to seek profits" they say "people are going to try to seek economic power (profits), and we should acknowledge that."
Alternatives to the free market require that the government either distort the market or try to make the market go away. Socialism, the generally accepted opposite of the free market, tries to ignore that people will attempt to have more economic power. The greedier the person, the more they will do to make that attempt. In Soviet Russia, people would climb the governmental ladders to have that privilege. In corporatism, they would have the government pass laws that protect their profits.

In a free market, people will be forced to compete to gain their profits. If someone wants to gain any level above me, I would much prefer that they have a fight to get to that position.  The free market is a decentralized meritocracy.

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