Free Market Flaw: No Intellectual Property
I do not understand why so many people support free market economics. It is as if they read a bit about it, understood some of it, and are in favor of it because they read a bit about it and understood some of it.
A wise person is able to consider a view that opposes his own without prejudicially denying it nor necessarily accepting it. A realistic person must accept that nothing is perfect. Those who argue in favor of free market economics, at times, seem to be neither wise nor realistic. They simply argue that opposing views are necessarily incorrect, and that the free market system is perfect.
Some of the debates I’ve been involved in on the topic are with people who I have encountered on writing web sites. They, like many who support the theory, have read a bit about it and understood some of it, and rely heavily upon quotes from some of the heavyweight supporters for their arguments.
When I ask them if they would mind if I took one of the articles they have written and put it up as my own, they always have said that would be plagiarism and copyright infringement. So what? Those laws would not exist in a totally free market, nor would patents on inventions.
Free market theory of the Austrian variety, which is the free market economic theory, asserts that creators and inventors are given a head start on competition, not protection from competitors.
Many of the people arguing pro free market economics, upon learning that element of the theory, concede that they do not like that part of it, but still support the theory otherwise.
How ridiculous and self-serving is that?
Do they not see that they could utilize technology that is currently owned by a huge corporation and set up shop to compete with that huge corporation, but, in turn, must allow the huge corporation to also utilize anything they invent or write without claiming infringement on intellectual property rights?
It should naturally follow their concession that they still want the system, except for the parts they do not want, that we already have a free market system except for the parts that people have said they do not want. Ah, but that is not good enough for them, for it does not follow the parts of the theory they have read a bit about nor the some of it they understand.
You see, that, and the ability to quote some people who support it, obviously makes them smarter than other people who either have not read it, or have read it and understand it has flaws and is not perfect!
Some other things I've written about: