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SkyChief
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Market Fundamentalism - What Is It & Why Do The Left Oppose It?
Feb 24th, 2019 at 2:04pm
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Quite simply, Market Fundamentalism is the idea that free market policies will solve most economic and social problems.

So why are socialist democrats so quick to spurn it?

They see it as a huge barrier to progressive change in the United States.  Its ideas have been used to discredit taxes, regulation of business, and wealth redistribution which of course is the cornerstone of any socialist state.

Federal tax cuts, dramatic reductions in government regulatory activity, and efforts to downsize the government tend to take the wind out of socialist's sails.   

They also criticize it as being over-simplistic.  The left loves complexity - it provides more opportunity for corruption.  Maxine Waters can attest to that!   Grin

Conservatives fear Market Fundamentalism too.  They want to weaponize taxes and tariffs to wage Trade wars. 

Trump is doing this with China, and businesses suffer as well as the consumers who buy their products and services.  Prices of goods and services will always increase in a Trade war.
  

Governments will always devise ways to deprive an honest man of his money or property, and claim that it's legal.
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Jeff
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Re: Market Fundamentalism - What Is It & Why Do The Left Oppose It?
Reply #1 - Feb 24th, 2019 at 2:33pm
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SkyChief wrote on Feb 24th, 2019 at 2:04pm:
Quite simply, Market Fundamentalism is the idea that free market policies will solve most economic and social problems.
Who came up with this idea?

The way I understand it, economic freedom is better than a government controlled economy, and people must be free to solve their own social problems, or not.

Social problems won't go away by government decree, and often social problems are perpetuated or made worse by government action, so there probably will be fewer and less serious problems if government doesn't try to solve them, but there will always be some because people.

Anyway, free markets don't require policies, they require a lack of policies.
  

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Re: Market Fundamentalism - What Is It & Why Do The Left Oppose It?
Reply #2 - Feb 24th, 2019 at 2:44pm
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SkyChief wrote on Feb 24th, 2019 at 2:04pm:
Quite simply, Market Fundamentalism is the idea that free market policies will solve most economic and social problems


I don't agree with that, not at all.  Free markets allow people to get what they value.  What they value means what they will pay for.  Those are the only economic and social problems solved.  It doesn't change human nature, it relies on human nature.  That's why it works.  But it's not a magic elixir, I don't get how you think it would solve anything other than choice
  

Contest winner:  I predicted Kaz' meltdown
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SkyChief
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Re: Market Fundamentalism - What Is It & Why Do The Left Oppose It?
Reply #3 - Feb 24th, 2019 at 2:53pm
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Jeff wrote on Feb 24th, 2019 at 2:33pm:
Who came up with this idea?
It's basically a 20th century term for 19th century laissez-faire


Jeff wrote on Feb 24th, 2019 at 2:33pm:
Anyway, free markets don't require policies, they require a lack of policies.

Exactly.  This is why statists so strongly oppose it.  They believe the State should tax and regulate the markets.
  

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Re: Market Fundamentalism - What Is It & Why Do The Left Oppose It?
Reply #4 - Feb 24th, 2019 at 3:05pm
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SkyChief wrote on Feb 24th, 2019 at 2:53pm:
It's basically a 20th century term for 19th century laissez-faire
I don't remember ever reading anything from 19th Century classical liberals about ending taxation. They just wanted to limit it and limit government too.
  

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Re: Market Fundamentalism - What Is It & Why Do The Left Oppose It?
Reply #5 - Feb 24th, 2019 at 3:07pm
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SkyChief wrote on Feb 24th, 2019 at 2:53pm:
Exactly.  This is why statists so strongly oppose it.  They believe the State should tax and regulate the markets.
Statists believe that people must be controlled, not just markets.

It's an ancient "progressive" notion that the world will be 'better' if elites are in control of everything. Cheesy

In it's most fundamental form, the elites own everything and there are no property rights for anyone else at all. Cry
  

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