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0 pointsWalterBright1mo ago0 comments

Political stability and rule of law are essential ingredients for free markets.

0 comments

In fact, "free" markets are downstream of them. Political stability and rule of law are important everywhere, whereas a fetish for free markets is something that's only important in some places.

We rarely get better results from healthcare or education (or infrastructure) from a free market system, and yet those are fundamental ingredients towards most human development (which can, but does not require free markets).

And anyway, what does a free market mean? Do regulations make markets less free or just shape them?

WalterBrightOP1mo ago

> We rarely get better results from healthcare or education (or infrastructure) from a free market system

Healthcare in the US was very good and inexpensive before the government got involved in it.

Public education does a very poor job in the US, at enormous cost.

> what does a free market mean?

It means a market where force and fraud are absent.

> Regulations

Regulations to reduce force and fraud are a proper function of government.

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