regulations for the environment, public health & safety...
Posted on: August 7, 2020 at 10:55:07 CT
zounami MU
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national security, competition/antitrust protection, etc, are essential.
Your interpretation of the word "free" is too literal for the sake of discussion. This is how economists generally characterize a "free market", according to Investopedia:
• A free market is one where voluntary exchange and the laws of supply and demand provide the sole basis for the economic system, without government intervention.
• A key feature of free markets is the absence of coerced (forced) transactions or conditions on transactions.
• While no pure free market economies actually exist, and all markets are in some ways constrained, economists who measure the degree of freedom in markets have found a generally positive relationship between free markets and measures of economic well being.
So you can have *minimal* regulations to protect society from bad actors, and still remain a free market in general.