Free Market Mysticism


Laissez-faire capitalism to my mind is as bad as communism to my mind. Except communism has always made sense to me at it’s premise. It’s the practice of it that’s always gone wrong.

Free market fundamentalism on the otherhand (another term for the same thing as laissez-faire) is an outright belief in miracles and magic. It’s an ideological equivalent of thinking that one can turn lead into gold via some sort of alchemical magic.   Simply put; if you leave the markets completely alone they will govern themselves and everyone will benefit.

No governmental oversight is needed, so we can get rid of all those agencies involved in the process of regulating them, since they are self regulating. No need to curb gross over-compensation to already overpaid CEOs, since the markets will “correct” mistakes and greed and all that money funneling upward will eventually trickle down anyway (after it escapes the clutches of those nets the CEOs are putting down to collect all their overflowing cash.

I will admit that this idea is right in one sense. We’re all going through one of those “corrections” at the moment. People typically lose jobs, go hungry, and generally feel bad about life during “corrections.”

So as silly as practised communism is, let’s keep current history in mind the next time one of these “free” market wizards sneers at “socialists” and wishes to turn everything he touches to gold.


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