Introduction
In line with my previous posts regarding increasing engagement I thought it would be fun to have a little competition based around a discussion topic.
Recently I've been pondering the question of free markets. So I thought we could base the discussion around this idea:
Does a truly free market exist anywhere in the world?
I will reward my favourite comment a 50 Steem Power reward.
Here are my thoughts:
My Thoughts on Free Markets
I believe there are two main issues in the way of free markets:
Firstly no matter where you are in the world and whatever kind of business you are in, there will be various regulations that you will have to deal with.
These regulations are imposed on anyone doing any kind of business by either the local or national government (often both).
These include procedural regulations (eg. information that must be filed, licenses that must be obtained etc.) as well as direct financial rules and burdens (e.g. taxation).
These are the most obvious issues but there is a second type of problem that relates to this in a more indirect manner.
The Second issue is that of existing companies having access and influence over the very politicians who create these rules and regulations.
They are therefore able to skew markets in such a way as to make it harder for competitors to succeed, making it easier for them to maintain their existing positions.
Further they can also get away with behaviour that an individual or small business would not be able to do.
Just take the recent examples of big banks refusing to pay taxes and being able to negotiate with the taxman - try doing that yourself (you will probably end up in jail).
This ultimately leads me to the following paradoxical and somewhat controversial conclusion:
It is my belief that the only truly free markets are basically black markets.
These are the only situations where people are free from government interference/regulation and the ability of vested interests (e.g. existing companies) to exert their influence.
Anyway - I wanted to keep this short so that people actually read it, so now it is over to you:
What do you think? Are there any truly free markets? Is it possible for them to exist?
Should they exist or are rules and regulations an absolute necessity?
Have your say in the comments.
I will award my favourite comment 50 SP after payout.
