Free Markets and the Economy


Here is a quick and concise comment I received in response to https://economics501.wordpress.com/2011/04/22/21st-century-karl-marx/ regarding the complexity of our economy. Note the phrase that there is ” a strong tendency to want to try to control something that appears to be out of control and chaotic”. I totally agree with the commenter below that free markets are much more effective than government control.

So the more free our economic markets are the stronger our economy will be. Empirical data supports us (US between 1776 – 2007 vs failed European social democracies and the more obvious economic failures of the USSR, Maoist China, North Korea, Cuba).

I am half way through with Mark Levin’s ‘Ameritopia’. Much of the book provides historical background for a tendency to ‘control’ the economy, with reasons why this has never worked and never will. I’ll provide a book review in week or two.

The comment I received:
Free markets are self-correcting and perhaps that is why they work so well even though they are so complex. There is a strong tendency to want to try to control something that appears to be out of control and chaotic, but I submit to you that a chaotic structure like an economy, which is run under a free market system, will indeed solve all the problems if it is just left alone.

Best
Economics501

References:
“Rules For Radicals” by Saul Alinsky
“Ameritopia” by Mark Levin

https://economics501.wordpress.com/2011/11/06/ows-creative-destruction/

https://economics501.wordpress.com/2011/12/10/socialism-vs-marxism-take-2/

https://economics501.wordpress.com/2011/12/04/socialism-vs-marxism/

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About economics501

1 - free market Capitalist; 2 - Fitness Entrepreneur; 56 years old, VP at an Investment Bank in NYC, ex Venture Capitalist, happily married with 2 girls. Education: Rutgers and NYU. I allow Ted Hruzd, my friend to blog at will here. He has many posts here. I have known Ted since we were both students at NYU. Ted also works for an Investment Bank as a VP in Equity Global Markets. ------------------------- I was very very Socialist leaning as a 22 year old. I then strongly believed in Gov role in helping the poor. However, as a USDA Child Nutrition Programs, I personally accounted for millions of fraud, abuse, and waste of tax payer money. I came to believe that the poor would be best served with less Gov programs and more with direct aid via tax system. Then after 5 years I became a free market capitalist, was a venture capitalist in 2007 and helped start 2 high tech companies. I dedicate this site to champion free market capitalism as the best road to Prosperity. Please join in. If you disagree, fine, but please post with dignity and class and be civil. Argue with facts always.
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