Economy America

It seems a lot of Americans really don't understand economy nearly as much as they've been told they do. Many seem to confuse economy with government, falsely believing that Free Market is intrinsic to Democracy. Of course, many Americans are under the false belief that America's economy is Free Market. America has a Mixed Economy based on Free Market principles, it does not have a pure Free Market.¹

Although government and economy work together, one particular type of government does not require one particular type of economy. It is possible to have a free society yet have an economy based on the sun worship. That's not an ideal mix, but it's not outside the realm of possibilities.

Free Market has its place in our country. It is necessary to regulate that Free Market to prevent abuses. Anti-trust, monopolies, rigging or hording of necessary supplies are examples of possible abuses that hurt both the individual and the market overall. However, redundancies in a Free Market can also lead to inefficiencies. Examples of these are if a city privatizes services such as water piping, garbage collection, electricity routing, and other infrastructure services without a central contract giving one entity the sole right and authority to provide such services. For example, it is OK to have more than one source for water, but it is bad to allow one property to be serviced by 4 separate pipes that bring that water in from the outside. In such as case, the city is responsible to regulate infrastructure services efficiently to prevent wasteful redundancies that can drain the overall resources of the city.

More on this some other day. :)