An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, December 7, 2017
Livia Gershon — Are Free Markets Fictional?
US business über-guru Peter F. Drucker thought so.
No market is free of price setting other than that determined by negotiation between buyer and seller. Furthermore, it's problematic to call "free" an institution which, as is inevitable in a capitalist-organized production system, the costs which should be calculated into the final price are instead pushed onto society.
No market is free of price setting other than that determined by negotiation between buyer and seller. Furthermore, it's problematic to call "free" an institution which, as is inevitable in a capitalist-organized production system, the costs which should be calculated into the final price are instead pushed onto society.
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