The problem with free market capitalism is that it has nothing at all to do with the best interests of the society which adopts it.
* it DOESN'T make sure that all needed services and products are available.
* it DOESN'T result in wages sufficient for all or even most people to live above poverty.
* it DOESN'T lead to the highest quality products and services.
* it DOESN'T result in a safe or clean living or working environment for the society.
* it DOESN'T make sure that all real costs of production are paid by those who derive profit from the product or service.
* it DOESN'T balance resource usage in order to preserve future sustenance.
* it DOESN'T prevent or even address abuses of people or of customers.
That's why capitalism only comes close to working positively for a society, when there is carefully designed and thorough and optimum regulation of every aspect of it.
You might want to read up on it some more!
What you describe is anything but a Free Market or even approaching Capitalism!
You are describing the Mess we have today!
Keynesian much?
I've read up on it plenty, and I think you don't understand what I'm talking about. However, the main thing which I think we CAN agree on, is that there's never been a SINGLE version of what "captialism" means, in detail.
What I'm talking about, is based on the history of human behavior, and on the most common meaning that most modern people apply to the concept of "free market." Most people these days, mean ZERO REGULATION. What most of those same people completely overlook, is that ZERO REGULATION means a lot more than they realize.
It means that they depend on "marketplace punishment" of bad business, for one thing. The idea of that is, that if you bring a shoddy product to market, two things will happen as a natural result: buyers will stop buying it, and a competitor will come to market with a better product, and either force you to improve, or drive you out of business.
That works GREAT, in a local commune. But as soon as you get beyond a small town with no access to external resources, a scalawag producer can come by, sell horrible muck to a lot of people, then move on like a plague of locusts, and carry off the local folks' funds.
The reason why we HAVE things like safety regulations and health regulations, is specifically because the "free market" concept has repeatedly and horribly failed, over and over again, to address such concerns, because things like making sure your workforce survives and prospers, is NOT linked directly and positively to profits.
It's why we have problems here, where wages offered are insufficient to provide workers with a viable living. What the ideal Free Market system would do, is force wages to rise according to the cost of living, because employers would have to offer more to get anyone to work for them.
"Free market capitalism" counts on equal power between customers, workers, and owners. That can't exist in real life, unless the market is limited to the same locality where everyone involved lives.
So. You are probably thinking of something OTHER than a "free market" when you talk about it. Most people are, without realizing it.
Edited by
IgorFrankensteen
on Sun 04/10/16 07:59 AM