There’s no such thing as an “unregulated Free Market”

Even were all governments zapped to Alpha Centauri, the free market would not be unregulated, because the market is its own regulator, through prices and competition.  Businesses that do not provide value for their service or product are punished harshly and quickly by discriminating customers who search for the best deal they can get for their money.  Government regulation is almost always counterproductive, and tends to limit competition in the marketplace, which means that it interferes with the natural, self-regulating processes that would normally weed out badly managed firms and reward well-run and innovative firms.  It is utopian nonsense to claim that government regulation is necessary to keep the “excesses” of the market from wreaking havoc on society.  The only institution that reliably wreaks havoc is government.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: