SovereigntyQuest on Nostr: I’m hoping the book below that I’m starting to read now will help me to resolve ...
I’m hoping the book below that I’m starting to read now will help me to resolve some pessimism I’ve had about the direction of capitalist economies. In particular, I’ve found it difficult to not see an almost naive “it works in theory” adherence to laissez-faire and free-market Austrian inspired principles that I’m yet to see resolved as pertains to a crucial, imo, blindspot. To boil it down……
Can free-market economies truly exist sustainably if there are, at the same time other, state directed economies, particularly exporters that heavily distort their own, and by implication the free market nations’ economies?
If the whole world agreed to play by a truly free market principle then, yes, but that doesn’t seem anyway near evident at the current time.
There is clearly today such a dynamic in play as we start to see not just the more mature capitalist nations implementing tariffs but also countries in what is called the Global South do the same as they see a need to protect their industrial policy/nascent manufacturing base from the big state subsidised exporter. There is clearly a dogmatic reaction, among many/most who advocate for free markets, which results in what I can only see as a simplistic and naive “All tariffs are bad…..the end”. How can the free market protect itself from being taken advantage of by another state directed economy?
I’ll continue to read and reply in joyful soliloquy to my own note in time.😜
Can free-market economies truly exist sustainably if there are, at the same time other, state directed economies, particularly exporters that heavily distort their own, and by implication the free market nations’ economies?
If the whole world agreed to play by a truly free market principle then, yes, but that doesn’t seem anyway near evident at the current time.
There is clearly today such a dynamic in play as we start to see not just the more mature capitalist nations implementing tariffs but also countries in what is called the Global South do the same as they see a need to protect their industrial policy/nascent manufacturing base from the big state subsidised exporter. There is clearly a dogmatic reaction, among many/most who advocate for free markets, which results in what I can only see as a simplistic and naive “All tariffs are bad…..the end”. How can the free market protect itself from being taken advantage of by another state directed economy?
I’ll continue to read and reply in joyful soliloquy to my own note in time.😜