Monday, September 26, 2016

Paul Krugman's use of "free marketer"

I'm surprised the economist Paul Krugman is using "free market" as loosely as the so-called "free marketers" do.  "Free market" too often means fewer and fewer sellers doing whatever they please.  A true free market has many buyers and sellers, both buyers and sellers are free to enter and leave the market, both buyers and sellers have all the information they need to make a decision, and all costs are paid for in the transaction.

How many independent pharmacies are there is our cities? You can probably count on one hand the corporate pharmacies.

How many situations like Epipen where the buyers are not really free to leave the market?

As to full information how much do the sellers know about you while fighting with dozens of lobbyists to hide information about their products. GMOs?

Externalities? These "free marketers" don't want the government to regulate worker safety and don't want government to regulate the pollutants from their smokestacks, farms, and mines going downwind or downstream.

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