A Quote by Ha-Joon Chang
Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because we so unconditionally accept its underlying restrictions that we fail to see them.
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The free market doesn't exist. Every market has some rules and boundaries that restrict freedom of choice. A market looks free only because we so unconditionally accept its underlying restrictions that we fail to see them.
This is the marketplace of political ideas. This is how America operates. It's a free market. It's free-wheeling. From the outside, it looks unpredictable. There's a circus-like free market.
There is not one grain of anything in the world that is sold in the free market. Not one. The only place you see a free market is in the speeches of politicians.
There's not a single country that actually approaches economics in a pure, free market, capitalist way. I like the free market - but it very much exists only in textbooks. If I had a choice, and we could live in a very pure world, I would be a supporter of the free markets.
Underlying most arguments against the free market is a lack of belief in freedom itself.
You can keep raising it, but at some point, everybody who believes in a minimum wage will say, "No, wait a minute. That's too much," and at that point, you have demonstrated that that there's no market relationship. You're just talking emotion. You're just talking "fairness." You're just talking being nice, and that's not how the market works. People aren't paid a wage because they're being nice to, or because it's fair. In the market, the market rules.
My father always said 'There's no free lunch.' My father was right. There's no free lunch and there's no free market. The market is rigged, the market is always rigged, and the rigging is in favour of the people who run the market. That's what the market is. It's a bent casino. The house always wins.
What most people really object to when they object to a free market is that it is so hard for them to shape it to their own will. The market gives people what the people want instead of what other people think they ought to want. At the bottom of many criticisms of the market economy is really lack of belief in freedom itself.
Indeed, a major source of objection to a free economy is precisely that it... gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.
Here is the trap you are in.... And it's not my trap—I haven't trapped you. Because abortions are illegal, women who need and want them have no choice in the matter, and you—because you know how to perform them—have no choice, either. What has been violated here is your freedom of choice, and every woman's freedom of choice, too. If abortion was legal, a woman would have a choice—and so would you. You could feel free not to do it because someone else would. But the way it is, you're trapped. Women are trapped. Women are victims, and so are you.
It is not true at all that a free market will ensure a democracy. It doesn't. There must be a balance between a free market and some regulations which are essential in order to safeguard the interests of consumers and of people in general.
The term ‘free market’ is really a euphemism. What the far right actually means by this term is ‘lawless market.’ In a lawless market, entrepreneurs can get away with privatizing the benefits of the market (profits) while socializing its costs (like pollution).
We can't leave everything to the free market. In fact, climate change is, I would argue, the greatest single free-market failure. This is what happens when you don't regulate corporations and you allow them to treat the atmosphere as an open sewer.
There's no checklist of how democracies fail because they fail in different ways. Some of them fail because they break up and civil war breaks out... Often they fail because someone is elected to power who doesn't respect the rules of the democracy.
Americans have always pursued our dreams within a free market that has been the engine of our progress. It's a market that has created a prosperity that is the envy of the world, and rewarded the innovators and risk-takers who have made America a beacon of science, and technology, and discovery. But the American economy has worked in large part because we have guided the market's invisible hand with a higher principle - that America prospers when all Americans can prosper. That is why we have put in place rules of the road to make competition fair, and open, and honest.
I do not share the general view that market forces are the basis for political liberty. Every time I see a homeless person living in a cardboard box in London, I see that person as a victim of market forces. Everytime I see a pensioner who cannot manage, I know that he is a victim of market forces
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