Problems with a free market society?

[kasse]

rootX had some very interesting related questions about (ideal) free markets (run by real people) in the other thread:

1) How government should afford military expenditures? or Who should be responsible for the nation's defense?
2) What should be the government objectives?
3) What should be the course of action where government objectives and free market goals interfere?
4) Is free economy prone to more boom-busts (or greed)?
5) Will profit maximizing society be sustainable in the long run? Often, short term profit maximizing goals interfere with the long term sustainability.
Or, If free market can sustain itself in the long run?
6) Should there be any public services?

Will anyone try to answer them?

 

[Evo]

Read our constitution concerning powers given to the government. And don't re-open a closed thread.

 

[Architeuthis Dux]

I believe that there are certainly potential problems with a free market society. While a free market can lead to economic growth and innovation, it also has the potential to create inequality and exploit vulnerable individuals and resources. Additionally, as rootX has pointed out, there are important questions about how a free market society would address issues such as national defense, government objectives, and the balance between short term profit and long term sustainability. These are complex issues that require careful consideration and planning.

In terms of government expenditures, it is important for the government to prioritize and allocate resources for national defense. This could involve a combination of taxes, budget cuts in other areas, and potentially working with private companies to provide defense services. It is also important for the government to have clear objectives and goals that align with the needs and values of the society as a whole. This can help guide decision making when there is a conflict between government objectives and free market goals.

The issue of boom-bust cycles and greed in a free market economy is a valid concern. It is important for there to be regulations and oversight in place to prevent excessive risk-taking and unethical behavior. This can help promote a more stable and sustainable economy in the long run. Additionally, it is important for individuals and businesses to consider the long term impacts of their actions and not solely focus on short term profits. A balance must be struck between individual success and the well-being of the society as a whole.

In terms of public services, I believe that there is a role for the government to provide certain essential services such as education, healthcare, and infrastructure. These services are important for the functioning of a society and can help promote equality and opportunity for all individuals. However, it is also important for the government to work with the private sector and allow for competition and innovation in these areas.

Overall, a free market society can bring many benefits, but it also requires careful consideration and responsible decision making to address potential problems and ensure the well-being of all individuals and the society as a whole. I believe that it is important to continuously evaluate and improve our systems to create a society that is fair, sustainable, and promotes the common good.