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Free market

Definition: An economic system in which the price of goods and services is affected by supply and demand rather than controlled by a government.

* All seven elements should be in.

1. Purposeful and necessary for government to not interfere with system.

2. No artificial scarcity (= no hoarding).

3. No 'flooding' (= no overproduction or excess supply).

4. No price fixing or price controls. And no prohibitions.

5. No restriction(s) of any kind. And currency in circulation is not subject to economic manipulation to create a temporary inflationary or deflationary condition. (Free entry, free exit.)

6. No imposition or unauthorized monitoring. That is, companies and marketers can engage in a price war, speculative trading, etc. In other words, it will be neither a seller's nor a buyer's market.

7. System serves purpose(s) and remains or will remain in place for period necessary.


See perfect PURCHASING POWER (2).


Quote: "The only way that has ever been discovered to have a lot of people cooperate together voluntarily is through the free market. And that's why it's so essential to preserving individual freedom". - Milton Friedman.

Quote: "To win the people, always cook them something savoury that pleases them". - Aristophanes.

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