Post
Topic
Board Economics
Re: Is the US Moving Away from Capitalism and Free Market?
by
Darker45
on 27/05/2020, 12:39:27 UTC
* What do you think? It seems like the US is moving closer to central planning since the government decides to interfere with the free-market.

The modern free market is not absolutely free, never been. Capitalism was never about absolute freedom in the market. It was about fair competition and equal opportunity for all. This freedom has always been within the bounds of laws, regulations, and other perimeters.  

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* At the time of this pandemic, should the government let the market regulate itself?

No, not absolutely. There is always what we call public interest. The capitalist market is profit-oriented. Somehow, the government has a responsibility to make sure that such a goal will not be to the detriment to the overall society.  

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* What is the rule of the government in this "new capitalist" system? Should it be called "pure capitalism?"

Of course, not. The "leave alone" preference of laissez-faire is simply impossible to implement. But this does not mean that the government will take over private firms. They will just intervene whenever necessary. After all, they have the largest stake in the society.