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Fri Oct 23, 2015, 01:55 AM

 

We used to have a name for an unregulated "free" market economy, we called it

The Black Market.

17 replies, 1842 views

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Reply We used to have a name for an unregulated "free" market economy, we called it (Original post)
grahamhgreen Oct 2015 OP
PatrickforO Oct 2015 #1
delrem Oct 2015 #2
SleeplessinSoCal Oct 2015 #6
Iliyah Oct 2015 #3
Spitfire of ATJ Oct 2015 #4
dreamnightwind Oct 2015 #5
99th_Monkey Oct 2015 #7
dreamnightwind Oct 2015 #11
Spitfire of ATJ Oct 2015 #15
grahamhgreen Oct 2015 #13
gratuitous Oct 2015 #14
azurnoir Oct 2015 #8
mmonk Oct 2015 #9
safeinOhio Oct 2015 #10
frizzled Oct 2015 #12
airplaneman Oct 2015 #16
grahamhgreen Oct 2015 #17

Response to grahamhgreen (Original post)

Fri Oct 23, 2015, 01:57 AM

1. So we did.

So we did. Jack London called it 'The Abyss.'

Basically, its great for the few, and the rest of us are fucked.

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Response to grahamhgreen (Original post)

Fri Oct 23, 2015, 02:06 AM

2. You sound like some kind of commie, to me.

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Response to delrem (Reply #2)

Fri Oct 23, 2015, 04:26 AM

6. thanks for the chuckle. n/t

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Response to grahamhgreen (Original post)

Fri Oct 23, 2015, 02:18 AM

3. It's history.

K & R

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Response to grahamhgreen (Original post)

Fri Oct 23, 2015, 03:34 AM

4. Pssst!...

 

[font size=5]Stop calling it "The Free Market" because that's Right Wing spin[/font]


"Freedom" sounds good, doesn't it? Saying you are into "freedom" makes you sound good too.

The "Free Markets" sounds like a good thing too.

But ask yourself, what EXACTLY is the "Free Market" free of?

Regulations, or in other words - LAWS.

From now on, when someone says they support "The Free Market" correct them by saying they support "A Lawless Market".

Suddenly, they don't sound like such a "good guy" anymore. You've taken away their time tested, focus group talking point and white cowboy hat and made them the bad guy.

http://www.democraticunderground.com/1022162

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Response to Spitfire of ATJ (Reply #4)

Fri Oct 23, 2015, 04:09 AM

5. Also "free enterprise"

and "neoliberal" (which usuallly seems to mean "liberally" unregulated markets).

It's all a bunch of freedumb.

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Response to dreamnightwind (Reply #5)

Fri Oct 23, 2015, 04:35 AM

7. "Free Trade" also comes to mind.

 

meaning advancing global corporatist agenda at the expense of workers, and the environment.

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Response to 99th_Monkey (Reply #7)

Fri Oct 23, 2015, 05:44 AM

11. Can't believe I missed that one

Free Dumb!

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Response to 99th_Monkey (Reply #7)

Fri Oct 23, 2015, 05:47 PM

15. Indeed, "lawless trade" is traditional for drug dealers too.

 

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Response to Spitfire of ATJ (Reply #4)

Fri Oct 23, 2015, 02:40 PM

13. I think we should call it the Black Market, and Black Market Trade Deals

 

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Response to Spitfire of ATJ (Reply #4)

Fri Oct 23, 2015, 02:49 PM

14. John Reed talked about that . . .

No, not the one who wrote about the Bolshevik Revolution; I'm talking about the last chairman of Citibank before it turned into Citicorp. Some years after shepherding through the transformation of Citi from mere bank to integrated financial services behemoth (and making a shit-ton of money), Reed realized that "too big to fail" financial institutions and so-called free market concepts were not good for the economy.

In introducing the concept, he asked, "Why does a car have brakes?" The obvious answer is to stop the car, but that's not really true. A car has brakes so that you can go fast. To illustrate, Reed asked how fast would you go in a car that didn't have any brakes? Or would you even get in a car that didn't have brakes? The same concept holds true for a healthy economy. The financial sector must have a strong regulatory framework (the brakes on the car) to provide stability and predictability, and to slow things down so they don't get out of control. If investors don't trust the system to work, they won't put their money into it, and that will strangle the economy.

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Response to grahamhgreen (Original post)

Fri Oct 23, 2015, 04:41 AM

8. I was thinking Robber Baron because that's the economy we're moving to -again

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Response to azurnoir (Reply #8)

Fri Oct 23, 2015, 05:28 AM

9. Yes. We're there again.

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Response to grahamhgreen (Original post)

Fri Oct 23, 2015, 05:38 AM

10. I call it

Ayn Rand's Atheist Market, as that is what it is.

As an Atheist that doesn't bother me as much as it does the neo-con nut jobs.

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Response to grahamhgreen (Original post)

Fri Oct 23, 2015, 05:47 AM

12. We've had it a lot longer than that, it was just called feudalism.

 

nt

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Response to grahamhgreen (Original post)

Fri Oct 23, 2015, 11:13 PM

16. when I hear a free market I think of

Many buyers Many sellers and easy access to the marketplace for both.
Many small companies is good. Big companies is bad.
Lots of laws to allow easy access and breaking up big companies that monopolize
-Airplane

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Response to airplaneman (Reply #16)

Sat Oct 24, 2015, 01:19 AM

17. I agree. Without the small being protected by law, the big destroys them.

 

Current state of the market is that people create a successful company in the hopes the will be poached, rather than in the hopes of long term market share.

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