A free market is one that is free of corruption and unfair business practices. Which cannot exist without regulations and the enforcement of those regulations.
And the truth is that the oligarchs, the established players in the game of capitalism, do not want a free market. They want a market with the illusion of freedom. A free market like the one you describe is, in fact, a true free market. Because then they have to actually compete with new players. Players who don’t come from the same backgrounds as the established players. Who may have different beliefs, who might not have the same skin color. Who may have a superior product or service to one or more of the established players. Who are free to sit at the same tables as oligarchs and take up space because their government gives them the power to do so. De regulation gives the illusion of a market being free, by making it so that if you want to be a new player in the game, you can, but unless you pay obeisance to the top players, you’re not getting very far. Plus the top players will buy you out, which is essentially them bribing you to walk away from the table.
That’s why an oligarchy is NOT the same thing as capitalism. You cannot have a free market if an oligarchy exists. Additionally, the four foundational principles of capitalism are:
The right to own property and work for your own well being.
The right to own the profits of your labors, after modest taxation.
Laws and regulations to prevent corruption.
The enforcement of those laws and regulations.
Edit: wow, the spelling errors sure make that seem crazy as hell. Fixed.
And the truth is that the oligarchs, the established players in the game of capitalism, do not want a free market. They want a market with the illusion of freedom. A free market like the one you describe is, in fact, a true free market. Because then they have to actually compete with new players. Players who don’t come from the same backgrounds as the established players. Who may have different beliefs, who might not have the same skin color. Who may have a superior product or service to one or more of the established players. Who are free to sit at the same tables as oligarchs and take up space because their government gives them the power to do so. De regulation gives the illusion of a market being free, by making it so that if you want to be a new player in the game, you can, but unless you pay obeisance to the top players, you’re not getting very far. Plus the top players will buy you out, which is essentially them bribing you to walk away from the table.
That’s why an oligarchy is NOT the same thing as capitalism. You cannot have a free market if an oligarchy exists. Additionally, the four foundational principles of capitalism are:
Edit: wow, the spelling errors sure make that seem crazy as hell. Fixed.