Friday, December 3, 2010

Unfree Market

"To say the latest financial debacle has roots in the free market is simply to confuse the competitive market economy with the corporate state, the competition-inhibiting partnership between influential businesses and government officials. Implicit taxpayer-backed guarantees to creditors, government-sponsored enterprises such as Fannie Mae and Freddie Mac, deposit insurance that anesthetizes depositor wariness, Fed-organized bank cartelization — none of this has anything to do with the free market." -- Sheldon Richman

Amen brother. This brief excerpt, however, does not mention another glaring and enormous problem - the lack of a free market for currency.

A free market does not exist in America. People blame the "free market" for inequity and crises, but what ought to be blamed for the problems people note is the lack of a free market; the lack of competition and failure; the lack of opportunity.

Being the eternal optimist that I am, perhaps one day a free market will exist.

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