The problem with reducing "free market" to "a market that is free" is that it leads one to speculate "free from what?" Consider also the question "free to what?" Could you define a free market as a market that is free to reach the economically efficient equilibrium price point? Sufficient competition on both the supply and demand sides makes a market more free. Complete (or at least symmetric) information available to both sides also helps. Taxes make a market less free. Intellectual property protections make a market less free.
![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
(no subject)
Date: 2012-10-26 01:14 am (UTC)