Kyle Montanio on Nostr: "Free market" is the most misused #econ term I've seen on here. A "free market" has ...

"Free market" is the most misused #econ term I've seen on here. A "free market" has nothing to do with a lack of competition, or free from price gouging, or free from externalities; it's solely about being free from government intervention.

A free market will (almost always) lead to market concentration and powerful firms that use their market power to extract the most from consumers and the environment. This is exactly why wealthy business owners push so hard for it.

#economics #TeachEcon