2007-11-25 02:32:05 · 9 answers · asked by indychamp 2 in Politics & Government ➔ Politics
By definition, a free market is free - of any intervention by government(s).
The question is whether the free market allows some negative possibilities to occur that could've otherwise been prevented by the use of legislation.
The FDA is a good example. If the free market were allowed, drugs would be developed that wouldn't go through such rigourous testing by the FDA before approval. Deaths may occur, and so proponents of government intevention show agencies like the FDA as being a good thing.
Free market analysts, however, would say that companies would never want destructive drugs to enter the marketplace, because it would affect their reputation (if drug company a made drugs that killed, who knows what else they'd make) and so the mistrust of the company's products would allow it to fail. Which of course would ensure the validity of the free market model.
2007-11-25 02:40:02 · answer #1 · answered by MomMom 4 · 0⤊ 0⤋
It depends.
If the government is fascist, the answer is no, because fascism is not interested in a free market, it is only interested in elitist control of the market.
If the government is a Constitutionally guaranteed democratic republic, the answer is yes, because the government is of, by and for We the People, and the Constitution sets the rules within which the game of capitalism is played.
2007-11-25 10:51:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you are speaking of India Govt., well, the answer is a clear NO.
Neither the Govt. run by Ignorant politicians and beaurocrats nor the so called Planning Commission understand the concept of Free market and the Fair game in this respect.Free Market and Free Economy must go hand in hand.Simple logic of Free Market Play is totally unknown to these people.
They themselves are not sure of what they are up to.On the one hand there is rigorous and illogical control is exercised by various limbs/wings/departments of the Govt. and on the other hand they preach for Free Economy ...vis-a-vis Free Market.
It sounds like a pious joke when this politically biased leaders, who are more interested in Votes than a Real Free Market Economy, talk of such a delicate and technical economic issue without understanding what it means and how to go about it.
On the one hand there's Administered Pricing in many products and day to items of consumption and on the other hand the these corrupt and Ignorant /uncommitted Politicians talk of free market/free economy.
Friends, take it for granted that in near furure there's no hope of implementation of free market economy in India
God save India
2007-11-25 10:58:32 · answer #3 · answered by bikashroy9 7 · 0⤊ 0⤋
My only issue with free market is when these corps become so huge that they really don't have to bow to market forces. What chance does Joes Variety Store have against MegaLowMart?? Look at the car business, soon there will be one or two manufacturers limiting our choices and empowering them to have control over us. I prefer to elect those who run my life.
2007-11-25 10:38:38 · answer #4 · answered by ash 7 · 0⤊ 0⤋
It can keep it from crashing. Regulations can keep businesses and people from doing something that in the end could cause serious harm to the overall economy. The key word is can. But yes, to an extent.
2007-11-25 10:39:35 · answer #5 · answered by Mitchell 5 · 0⤊ 0⤋
The government tries to maintain balances of many things.
2007-11-25 10:53:33 · answer #6 · answered by ted j 7 · 0⤊ 0⤋
false
government decision making is far too slow ... witness the speed at which the US (federal) government is figuring out what to do about its long term fiscal problems and the issues surrounding health care in America.
2007-11-25 10:34:46 · answer #7 · answered by Spock (rhp) 7 · 0⤊ 2⤋
NO it's to damm free now
2007-11-25 10:38:36 · answer #8 · answered by jessman 2 · 0⤊ 0⤋
Gov't has nothing to do with it/ Business does.
2007-11-25 10:35:08 · answer #9 · answered by Anonymous · 0⤊ 0⤋