Economic freedom” being code for giving capital more freedom to exploit its already powerful position in order to extract more real income from workers and consumers with no societal advantages forthcoming.

You’re not seeing the cart-horse problem.

Economic freedom is what it is. You are correct, that without a competent and unbiased referee, actors which have a more powerful competitive position will extract more than their share from the actors with weaker positions.

The problem is finding an unbiased referee. The government is supposed to be that referee, but it’s not unbiased. This creates a dilemma. What is best for all actors? A biased referee where the bias flips every four to eight years, or unchecked market forces?

I suspect you prefer the former.

Written by

Data Driven Econophile. Muslim, USA born. Been “woke” 2x: 1st, when I realized the world isn’t fair; 2nd, when I realized the “woke” people are full of shit.

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