Capitalism is a system composed of many agents with conflicting wants.
A lot of the capital owning capitalists would prefer the markets to be less free in many ways. If I own a toll road, I really don't want a parallel toll road. This sounds like a ridiculous allowance in a capitalist system but look up the Ambassador Bridge. It is very much in that owner's interest for the market to not be free at all.
If you look at lobbying, many capitalists advocate for less free markets all the time. I'm not just talking about the capital owners either. Labor advocates push for less freedom in the markets consistently through wage floors and legal restrictions on employers.
It seems like there is an equilibrium point where a completely free (meaning every person for himself) devolves to the point where the lack of trust becomes too high of a transactional cost. Both food producers and food consumers benefit from regulations that don't allow you to sell sawdust disguised as flour just because you are able to convince someone that it will work the same.
dghlsakjg|2 years ago
A lot of the capital owning capitalists would prefer the markets to be less free in many ways. If I own a toll road, I really don't want a parallel toll road. This sounds like a ridiculous allowance in a capitalist system but look up the Ambassador Bridge. It is very much in that owner's interest for the market to not be free at all.
If you look at lobbying, many capitalists advocate for less free markets all the time. I'm not just talking about the capital owners either. Labor advocates push for less freedom in the markets consistently through wage floors and legal restrictions on employers.
It seems like there is an equilibrium point where a completely free (meaning every person for himself) devolves to the point where the lack of trust becomes too high of a transactional cost. Both food producers and food consumers benefit from regulations that don't allow you to sell sawdust disguised as flour just because you are able to convince someone that it will work the same.