Wednesday, November 15, 2017
The argument that markets should be free and unregulated has never been true. Human behavior is not always honest. Consider cryptocurrency. It still is an open and wild marketplace where scams and schemes are prevalent. For digital coinage to be of general use, it will need to be regulated and cheaters controlled. So too with every other marketplace. That is why when companies call for free markets, they really do not intend for the them to become Darwinian and capitalist. They want fairness and equal competition. This government provides. Communicators who profess to be free marketers need to be honest with themselves. Rather than calling for less regulation, they should opt for effective rulemaking that guides behavior but doesn't squelch it. And, there should be penalties for the dishonest. Free markets have never been free of bad operators.