3 responses to “Allow The Free Market To Set Interest Rates – Not The Fed, Not Congress”

  1. Rob

    Hopefully Keynesianism will become discredited when it becomes clear, following all this economic turmoil, that the countries that have practised austerity are much better off than those that have chosen to stimulate their way out — the collapse of the US dollar would be a spectacular demonstration of the failure of such policies.

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  2. Matt - For Free Markets

    In this article…

    http://www.consortiumnews.com/2010/030410a.html

    …the author argues that the free market can only lead to corporate fascism, where the country will be run by the biggest corporations with the most money. And they’ll only be able to do so because of a deregulated market where monopolies are free to exist. It’s the only hole in our argument for a free market system. How would you respond to that?

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    1. Random

      It is much more difficult for monopolies to survive in a free market, because they will not be able to use the force of the government against their competitors.

      It is in the corporations best interest to use the government to do their dirty work, by using the legal system to bring anti-trust suits against competitors, ban competitors through the use of patents, buy preferential laws such as regulation to increase the price of entry, steer public opinion for elections, etc., rather than innovating in the free market. And if a monopoly did exist (in a free market), it would need to operate very efficiently and at a low price (good for consumers), otherwise some competitor would come along and blow it away.

      The argument for regulation is that we need more government power which always ends up in the hands of monopolies to protect us from monopolies!

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