Wednesday, June 14, 2006

There is no such thing as a "free" lunch---or a "free" market or "free" trade, either.

REPEAT AFTER ME:

1. There is no "free" lunch because someone always pays the cost of that lunch.

2. There is no "free" trade because someone always pays the cost of that trade.

3. There is no "free" market because someone always pays the cost in that market.

4. There is only trade, markets...and lunch.

In other words:

Putting "free" in front of those words are just so much propaganda. Instead, the analysis should be to determine who is paying the cost in a structure or system and what, if anything, should be done to fine tune or make fundamental changes to the structure or system at various times. There is no utopic correct answer for all time.

 

Excellent observation by MFBlog on the idiocy of talking about "free" markets....he's absolutely correct, there is no "free" anything---someone always pay the cost.  In the case of NAFTA and "free" trade, it's the industrial worker that pays the price, not professionals like lawyers, doctors, accountants, MBAs, and CEOs.  In the case of unrestrained immigration, it's the same thing---the working stiff that pays the price, and it's the upper-income folks who benefit.  

Posted by Joe_Populist at 13:01:44 | Permanent Link | Comments (0) |
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