> who is taking the concept of free markets seriously
The EU. Let me explain, because this was confusing:
In US political debate, free markets have become synonymous with ”let companies do what they want”. Today, most of US ”markets” are neither free, nor (arguably) even markets at all, such as Amazon or health insurance. It is a mix between feudal system and protection racket.
Just like ”freedom isn’t free” in terms of civil liberties, same goes (imo) for markets. If you want to optimize for ”freedom” of markets, that means a non-zero amount of regulating them. This is obvious both in theory and by opening your eyes and looking outside.
As far as how to regulate them, I believe the EU is doing a good job, especially in the face of novel technology and business topologies. Basically, allow everything that isn’t deliberately anti-competitive. Because, drumroll, competition is fundamental for markets to work, at all.
Sorry for the confusion. It’s hard to make points when words mean completely different things in different parts of the world.
The EU. Let me explain, because this was confusing:
In US political debate, free markets have become synonymous with ”let companies do what they want”. Today, most of US ”markets” are neither free, nor (arguably) even markets at all, such as Amazon or health insurance. It is a mix between feudal system and protection racket.
Just like ”freedom isn’t free” in terms of civil liberties, same goes (imo) for markets. If you want to optimize for ”freedom” of markets, that means a non-zero amount of regulating them. This is obvious both in theory and by opening your eyes and looking outside.
As far as how to regulate them, I believe the EU is doing a good job, especially in the face of novel technology and business topologies. Basically, allow everything that isn’t deliberately anti-competitive. Because, drumroll, competition is fundamental for markets to work, at all.
Sorry for the confusion. It’s hard to make points when words mean completely different things in different parts of the world.