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CopperCicada · M
Von Mises would say a free market is the only way for a society to express its values in a concrete fashion. There is a lot of wisdom in his philosophical position. He shows how economic value is related to social values and articulated through markets.
I've seen first hand in underground local cash and barter economies when I spent time in the rural Northeast.
But it has to be completely unregulated. And that's where it falls apart. One can't want to eliminate taxation and environmental regulations while keeping corporate subsidies.
Pragmatically I don't think a truly free market can exist for an economy of a certain scale. And when markets are political machines. In that case it seems import to still use free market philosophy to understand what goes on.
I've seen first hand in underground local cash and barter economies when I spent time in the rural Northeast.
But it has to be completely unregulated. And that's where it falls apart. One can't want to eliminate taxation and environmental regulations while keeping corporate subsidies.
Pragmatically I don't think a truly free market can exist for an economy of a certain scale. And when markets are political machines. In that case it seems import to still use free market philosophy to understand what goes on.
