[quote=sdduuuude]
Suggest you adjust your definition of a “free market”
Most think a free market is one where participants are free to do whatever they want. This is incorrect.
A free market is one in which participants are free from others infringing upon their rights. Theft, for example, is not allowed in a free market.
A free market is not an unregulated market.
[/quote]
From Wikipedia:
“A free market is a competitive market where prices are determined by supply and demand. It is primarily found in countries where economic intervention and regulation by the state is limited to tax collection, and enforcement of private ownership and contracts. Free markets differs from situations encountered in controlled markets or a monopoly, which can introduce price deviations without any changes to supply and demand. Advocates of a free market traditionally consider the term to imply that the means of production is under private, and not state control or co-operative ownership. This is the contemporary use of the term “free market” by economists and in popular culture; the term has had other uses historically.
A free-market economy is one within which all markets are unregulated by any parties other than market participants. In its purest form, the government plays a neutral role in its administration and legislation of economic activity, neither limiting it (by regulating industries or protecting them from internal/external market pressures) nor actively promoting it (by owning economic interests or offering subsidies to businesses or R&D).”
