Those who adhere to the philosophy of liberty (libertarians, voluntaryists, etc.) are quick to point out that neither the United States nor most places on earth have a free market economy. This is true if we ignore an important qualification for what constitutes a free market. Rothbard defined the (free) market as, "a summary term for an array of exchanges that take place in society. Each exchange is undertaken as a voluntary agreement between two people or between groups of people represented by agents." Thus we can make the argument that the market is always free, and concurrently, always fully employed.
Monday, June 3, 2013
Posted by Skyler J. Collins
My latest column is now available at EVC. It begins: