Home Section 8

Now Visiting

We have 4 guests online
The Law, by Bastiat
Member Price: USD $1.89
"Timid men prefer the calm of despotism to the tempestuous sea of liberty."

--- Thomas Jefferson


Lesson 73 - Capitalism and Free Markets Print E-mail

 

These arguments and fears as well as others, all center on the idea that in a free market, the customer and consumer is helpless and at the mercy of monolithic and predatorial business interests.  Therefore, government must be called upon to "protect" them from the free market.

Some of the other fears and misconceptions that arise out of ignorance concerning how the free market operates are:

  • a free market causes unemployment;
  • a free market keeps wages low;
  • a free market leads to cheap and shoddy products;
  • a free market leads to fraud, deception, and false advertising;
  • a free market causes economic depressions and recessions;
  • money in a free market is unreliable and dishonest; honest and reliable money only comes from government;
  • wealth and dishonesty are two sides of the same coin; poverty is always virtuous and is always honest.

All of these things are simply not true.  In fact, most if not all of the evils which many people imagine and accuse a free market of being responsible for, are precisely the evils that result from a mixed economiy controlled in whole or in part by government.

 

Go to next lesson ...>>



 
 

Fundamentals of Liberty