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We always say, "Ah, if only the Free Market were just allowed to function."

Allowed by whom? Is the free market so free that it needs permission to function? Are we all just little lambs who will just complain lightly when our free markets are destroyed by predators who cannot be reasoned with; who use your reason against you?

We should rather say, "Ah, if only we had the strength to defend our Free Markets and destroy its enemies."

Because markets are only as free as their participants. If the participants are slaves, then the market is enslaved as well. If the markets are distorted, then its participants are distorted as well.

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Discussion

vinney...axkl 3mo ago

i love to see a #catallax post on a monday morning 😉

🇵🇸 whoever loves Digit 3mo ago

This can't be the same Jay as usual wtf? Good post

Sat Nakamoto 3mo ago

Madison writing about hell:

“If men were angels, no government would be necessary. If angels were to govern men, neither external nor internal controls on government would be necessary. In framing a government which is to be administered by men over men, the great difficulty lies in this: you must first enable the government to control the governed; and in the next place, oblige it to control itself.”