- Sep 8, 2013
Only thing that needs fixing is your mental health my dear one. I can't take arguments seriously from one who live in some sort of a fantasy world.The free market is about competition, right? Survival of the fittest and all that jazz. And the inevitable outcome of such competition is one dominant player in each particular field because that's what happens with competition - eventually something comes along that out-competes everyone else. Either that or you'd see what has happened in so many sectors - a cartel of major companies happily fixing prices to deny consumers choice and maintain the status quo.
Now the free marketeer response to that situation is that competition will deal with that problem as, if you have one big company with a monopoly exploiting it's position then sooner or later a smaller company will come along and compete more effectively and bring it down to size.
Except that, without competition regulations (e.g. a system where there are no external rules enforced by government) then there's nothing to stop the monopoly companies and cartels from using their financial, economic and market clout to strangle competition in the cradle to protect their position. And with competition being prevented from ever being able to compete then the free market itself is no longer free.
That's why there's no such thing as a "free market" - in order for a market to be free the market itself has to have some kind of ground rules and external regulation to enforce those rules in order to make sure that it remains competitive.
In fact, sensible state involvement is the backbone of a healthy market.