🎓 Doc Freemo :jpf: 🇳🇱How does it come to be that utility is the determiner of profit in a “free market”, whatever that means?
Through a very complex system of laws and regulations that are carefully selected. I could not ellucidate such a complex and complete system trivially here in these comments in a single night.
That said, if you’d like to touch on a small fraction of some of the major regulations that keep a market free we can certain touch on some of the major points in a non-exhaustive manner.
1) free education and training for everyone at every level. You cant have equity (equal oppertunity, not equality) if peoples start in life in terms of skills and abilities arent equal.
2) Good generous caring results-based conditional welfare… in others words, a system that makes sure the poor have the absolute basic to survive no matter what, and enough to thrive as long as they are willing to do their part.
3) Strong anti-trust (anti-monopoly) laws that are enforced. Monopolies mean the market isnt free. You cant have a free market if monopolies can control it.
4) Strong laws and strong enforcement against corruption, particularly price fixing. Regulations mean nothing if you can simply collude to circumvent them.
These 4 are probably some of the most important top 4 elements neccesary for a capitalism to be a capitalism (as I defined it), though as I stated they are only a very small tip of the iceburg.
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