pull down to refresh
42 sats \ 1 reply \ @SatsMate 12 Jun \ on: Has there ever been true free market Capitalism? econ
I think there have been periods of time where a true free market exists. I haven't lived through it here in the U.S.
I do think Adam Smith from several centuries ago lived through and studied true free markets. I think to return to a pure free market would take some time.
Places from my view that look like free markets right now is places like India or Argentina.
The genius of Adam Smith was that he created a blueprint of a free market invisible hand economy based on his thinking not necessarily experience. He was a critic of mercantilism and his opus was partially a critique of that system. Free trade is better than mercantilism.
reply