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29 August 2010

Market anarchy is for markets

Market anarchy means anarchy (i.e. freedom) for the market. Real anarchy means freedom for the people, which means, among other things, freedom from the market. If the market enjoys freedom to find its equilibrium, that doesn't help me if the equilibrium price of my talents happens to fall short of the equilibrium price of my needs. Unmet needs are the basis to all forms of exploitation. Those who have what they need within easy reach are those who have the freedom to take this (or another) job and shove it. Freedom for the people may require the ability to override market outcomes. Obviously a nongovernmental means of accomplishing this must be invented, but such an invention is necessarily part of the struggle.

3 comments:

Winton Bates said...

Hi Lorraine
I wonder what you think of Lin Osrom's views. There is a good discussion in a recent paper by Peter Boettke, here:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1542181

I will probably write about it on my blog.

Lorraine said...

Again, my attempt at a comment resulted in logorrhea. Result posted here.

Lorraine said...

Ha! Apparently even some Masonomists are breaking ranks with public choice theory!

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