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Message Subject THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Poster Handle RoXY
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Exactly What Does The ‘"Free’" In Free Market Mean?
Henry Harding
Wednesday, November 21, 2012
Activist Post

The Libor was rigged, the wholesale gas market is a fix, the biggest of multinationals pay next to no tax on their profits but bleat that they pay payroll on their minimum wage workers, insisting that this is both responsible and, probably, humble. Several UK water companies spend a great deal of money to ensure that supplying life’s essential is the only socially responsible thing they do.

Having bought the infrastructure built by our forefathers for pennies in the pound, and then left it leaking like a Government enquiry, they presumably justify their position by pointing out that they have enough crap coming down their pipes to deal with already. So be grateful, pleb.

So why are they called free markets? In what world can monolithic corporate monsters dominate everyday life, to the absolute exclusion of any meaningful competition, and still be called free? In an Orwellian mood it may be suggested that it is simply Newspeak, a distraction of language to trick our minds into believing the opposite of truth. Leveraging maximum possible value is really just a posh way of saying screw the customer for all they got. Price gouging in a disaster zone, as Governor Christie of New Jersey reminds us, is a crime. Outside of a disaster zone it’s a business model. On Wall Street and in The City, it’s a very lucrative way of life. So let’s take a trip to a foreign beach to see the view from there.

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