When bad men combine, the good must associate; else they will fall one by one, an unpitied sacrifice in a contemptible struggle. - Edmund Burke
By: sp34n119w, 10:53 PM GMT on September 09, 2008
Free Market - where?
Is there an example, in history or in the present day, where a country or industry operates on purely free market principles? Does it work for those involved or impacted by that economy?
How is the free market defined? I think it means that there is no government regulation, no worker organization, no possibility of legal liability for a corporation doing its business as it sees fit, and no taxation on corporate profits or trade or goods (did I leave anything out?). That would be truly free.
Is the "Free Market Economy" different from "Capitalism" or are they just different names for the same thing? Pundits and politicians seem to use the terms interchangably but I think they describe different objects - one describes a type of economic system and the other describes an economic philosophy. Someone set me straight, please!
So, again, where can I find a working Free Market Economy to study and how well do you think it works?
Also, feel free to continue to comment on the election or on the small government question - I still don't feel that I've got a handle on a good definition, there.
Small Government – what does it mean?
To me, small government means less wasteful spending, less “pork”, better accountability in terms of branch/department missions being upheld and in terms of spending to accomplish those missions, and pay-as-you-go budgeting using available resources.
To politicians, I think it means less regulation, less oversight, removing services that don’t have a high rate of return (meaning they don’t have lobby support), and more borrowing from other nations.
What does small government mean to you? What do you think it means when politicians say that phrase?
By your definition or mine or theirs, have you ever seen it? If you have, what does/did it look like?
Updated: 5:16 PM GMT on October 06, 2008
The views of the author are his/her own and do not necessarily represent the position of The Weather Company or its parent, IBM.
Santa Paula, CA
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Updated: 1:33 PM PDT on March 28, 2017