Planned and Free Market Economics

dclements July 16, 2021 at 17:14 1675 views 4 comments

As a person that has studied and debated philosophy for some time on this board and others I have come across discussions on whether Free markets are always the most efficient and/or most ethical way of doing things. While growing up I remember being told that we (those of us in the US) more or less use a mixture of Free and Planned market strategies in order to try to bring out the best in either while trying to avoid the pitfalls of both. Nowadays it seems to me that the mindset of many has become that Free markets are the only way to go and Planned market strategies are set to become a thing of the past

I'm wondering if anyone out there has any insight and/or opinions on this topic.

Comments (4)

Benkei July 16, 2021 at 17:44 #568095 0 likes

Reply to dclements Every market is constrained by laws and regulation. Contract law, environmental laws, labour laws, health and safety standards, taxation, levies, tariffs, sanctions, etc. etc.

There has never been a free market, it's a theoretical construct.

Kenosha Kid July 16, 2021 at 17:52 #568104 0 likes

Quoting dclements

Nowadays it seems to me that the mindset of many has become that Free markets are the only way to go and Planned market strategies are set to become a thing of the past

It's the post-truth era. It can be demonstrably true that free markets not only destroy the world but themselves and still the post-truthers will say nothing else works. At the end of the day, free markets overwhelmingly benefit the wealthiest few, and the wealthiest few have managed to convince us it benefits us.

James Riley July 16, 2021 at 20:50 #568205 0 likes

Quoting dclements

I'm wondering if anyone out there has any insight and/or opinions on this topic.

It is my opinion that there are two values: 1. Need; 2. Want. Free markets provide an incentive to locate that which is needed, free, and abundant, and then reduce it to a point where it is no longer free and can then be sold. (There is a long history about how "ownership" is obtained in the first place, but that is another issue.) Suffice it to say, we pay for food, clothing, shelter, space, and now water. We will be paying for air. People, on the other hand, are becoming more abundant. Someday they will be virtually free if you can take them. Maybe the owners of air will offer air in exchange for services. Hopefully you have something to offer that they want. Are you hot? Can you provide security? Foot rubs?

Cheshire July 16, 2021 at 21:08 #568216 0 likes

Quoting dclements

I'm wondering if anyone out there has any insight and/or opinions on this topic.

The labor market aspect of the free market is still fairly broken in the US. Low wage people can't switch jobs without risking losing their job in the process of looking so they are exploited by the lack of mobility. The system is sustained as long as the products are being made by people who make a tenth of our minimum wage.

A planned market isn't really a thing anymore. Even in North Korea you see a literal open free street markets. It's like planning how all the trees would grow to make a forest. It's impractical at best.