Free Markets

I just love Thom Hartman!

Democracy – Not “The Free Market” – Will Save America’s Middle Class:

“Here are a couple of headlines for those who haven’t had the time to study both economics and history:

1. There is no such thing as a ‘free market.’

2. The ‘middle class’ is the creation of government intervention in the marketplace, and won’t exist without it (as millions of Americans and Europeans are discovering).

The conservative belief in ‘free markets’ is a bit like the Catholic Church’s insistence that the Earth was at the center of the Solar System in the Twelfth Century. It’s widely believed by those in power, those who challenge it are branded heretics and ridiculed, and it is wrong.

In actual fact, there is no such thing as a ‘free market.’ Markets are the creation of government.”

And

“Markets are a creation of government, just as corporations exist only by authorization of government. Governments set the rules of the market. And, since our government is of, by, and for We The People, those rules have historically been set to first maximize the public good resulting from people doing business.

If you want to play the game of business, we’ve said in the US since 1784 (when Tench Coxe got the first tariffs passed “to protect domestic industries”) then you have to play in a way that both makes you money AND serves the public interest.”

Everyone should go read this piece! However, the idea that corporations should only be allowed to exist if they are benefiting the American public is going to really piss off the right-wing vermin that have been leaving comments here lately.