We’ve said it many times here, and many others have said it before us in other places. Free markets are not typically the friend of big corporations with lots of market share, money, and friends in government. These companies are already fat and happy. Free markets and free prices allow new challengers to enter the marketplace. This brings prices down and quality up. Not what the fat firms want.
Chapter 30 of Hunter Lewis’s New Book
Capitalism is dynamic. It is ever changing. The freer it is the better it serves the “market”, also known as “people.” If innovation is allowed to happen. If new ideas can blossom, good things happen for society. Jobs are created. We move forward and life gets better.
DIY. DIY. DIY.
Once the state gets out of the way people can start finding solutions to everyday problems which were once thought only the purview of the government.
In one respect Marx was right. Economies do evolve. They do develop. But absent the religion of the “state” economies tend to evolve toward solutions. That’s what markets are all about.
As your mom (hopefully) said, “Cheaters never win.”
They do however get rich sometimes. And for some that’s all that counts.
It’s valuable to remember what economies look like without real prices and the free flow of information, services, and goods.
Why are falling prices bad? The Fed does everything it can to avoid “deflation.” But we have “deflation” in electronics every year, every month, and this increases our general quality of life. Why can’t this happen in other goods?
Is the president really this ignorant of business and economics?
China has been very loose with its monetary policy historically but especially since the Crash in 2008. Its economy is also run (fundamentally) by cronycrats who think they can manipulate the economy to prosperity. (Sound familiar?)
Obamacare was a colossally stupid response to a very real and legitimate problem.