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Reason: Where Free Market Economists Go Wrong

Sheldon Richman says defenders of the free market should stop pretending America's corporatized economy is free.


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Great article. I especially like this part:

What we have—and have had for a long time—is corporatism, an interventionist system shot through with government-granted privileges mostly for the well-connected–who tend to be rich businesspeople. This system is maintained in a variety of ways: through taxes, subsidies, cartelizing regulations, intellectual “property” protections, trade restrictions, government-bank collusion, the military-industrial complex, land close-offs, zoning, building codes, restrictions on workers, and more. As a result, people can get rich at the expense of the government’s victims. Even some who have prospered apparently by market means have actually done so through government intervention, such as transportation subsidies and eminent domain. Wealth can be transferred in many ways besides welfare and Medicaid, some of them quite subtle. Most transfers are upward.

Free-market economists know this, but they often seem to forget it, such as when they indiscriminately defend firms (such as oil and pharmaceutical companies) in today’s corporatist economy. These economists convey the message that since in a free market people get rich and companies get big only by serving consumers, anyone who is rich today and any company that is big today must have gotten that way by serving consumers. The flaw in the argument should be obvious.

Given the corporatist nature of the economy, it is a mistake—as well as strategically foolish—to say the government should do nothing when a recession might be coming on or when recovery is disappointingly sluggish. There’s much it should do—or rather undo. Freedom’s advocates must spell this out in detail, revealing how existing government privilege harms the mass of people who have no political connections. In contrast, when an economist who proclaims his support for the free market says the current economy will fix itself, he brands himself a defender of the statist quo and turns his back on the State’s victims.

"Stand up for what you believe in. Even if you stand alone."
~ Sophie Magdalena Scholl
"Let it not be said that we did nothing."
~ Ron Paul
"You must be the change you want to see in the world."
~ Mahatma Gandhi

A government managed economy

is not a free market.

So you disagree with Hayek now, too?

It is these efforts, these deceptions we should really attack...

It is these efforts of deception that we should really be attacking from all sides now, as these liberals who don't understand the free market are our single greatest threat to unplugging the masses.....

Even Ron Paul's win in Florida is not more important than exposing this sham to the public.

And the only way they will know, is when the hypocrites, the liars on the altar are undressed before the public for all their many slanders against the free market.

This includes their branch davidians, the liberals in CATO, in Reason Magazine or AEI, in the New York Times and all over the Military Press. They are all collectively responsible for the population's ignorance...

Wake the masses up to the truth about free markets, this should be your only goal in every juncture!

Rather lame article rather convoluted

Is he saying that since government caused the problem we must pay government to fix the problem.

This is the fifth time since the Federal Reserve was spawned at Jekyll Island.

He recommends that we try for a sixth time.

Charlie Brown attempts the kick. Van Pelt holding

Free includes debt-free!

Where did you get that....

Did you read it?