
News Link • Free Market
Why Haters of Free Markets Love the Fruits of Free Markets
• https://mises.org, Raushan GrossWhether there is a free market resurgence or a small glimpse of it, platforms such as Whatnot, Property Room, Facebook Marketplace, Sotheby's, and DealDash, to name a few are bringing free market concepts back into vogue.
The peculiar thing is, the haters of free markets and enemies of capitalism, are some of the very people who participate in the market space and buy-and-sell action platforms. Free markets haters love highly-regulated markets and central planning to control market economies, so why do they love the fruits of unhampered auction-style platforms? Maybe it is "rules for thee, but not for me"—regulate everyone else but let me buy how I want. That seems plausible, but haters of free markets may say the auction-style, buy-and-sell platforms do not produce real needs or wants for people. I would concede this to Mises, who said,
"Under laissez faire [free markets], says the planner, the goods produced are not those which people "really" need, but those goods from the sale of which the highest returns are expected. It is the objective of planning to direct production toward satisfaction of "true" needs. But who should decide what "true" needs are?"
Free markets are not absent rules, as the free market haters assume. Auction platforms have rules but do not hinder common folk from making a profit from human actions. These digital platforms that offer "fruits of free markets" can be seen in the variety of products available, the competitive prices, and the constant innovation attributed to the sellers on virtual platforms. F.A. Hayek was right when he said there is a fatal conceit that man could not create such a harmonious system as the free market—a system that delivers to people what they demand, and in turn, the seller receives the signals of what to sell through the exchange of money. However, most importantly, the free market depends on a system of private ownership over the productive materials.
Free markets allow individuals to exchange without coercion, bring about better competitive prices and deals, encourage innovation from the seller, and are more efficient in the exchange—the overall buying and selling process. Amazingly, some people still do not see the harmony in a free market—despite their enjoyment of Facebook Marketplace, Whatnot, or DealDash. Ironically, the haters of free markets are users of shopping and auction-style apps. That is to say, disbelievers of free markets disagree with its tenets, theoretically, but practically, they use these auction-style platforms as consumers and enjoy the fruits from them. In other words, people who bemoan the dangers and greed of the free market are the same customers who are them. "Rules for thee, but not for me" is what I hear from enemies of free markets.