Free Our Markets: A Citizens Guide to Essential Economics


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Learn Liberty | Howard Baetjer

WordPress Shortcode. Published in: Environment. Full Name Comment goes here. If you continue browsing the site, you agree to the use of cookies on this website. See our User Agreement and Privacy Policy. See our Privacy Policy and User Agreement for details. Published on Apr 11, Free Our Markets explains why, in terms of foundational economic principles.

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Baetjer aims to show readers that liberty, not the force of government, is the means to achieve the goals we all have for humanity-high and rising standards of living, increasing security and abundance for all. In this book Baetjer presents the principles of spontaneous economic order and explains why, for practical economic reasons, free markets produce better results than even the best intended and most carefully crafted government interventions.

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Submit Search. Successfully reported this slideshow. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime. Hardly anyone cracks open the yellow pages and randomly picks someone from the dentist section. Reputation is a much stronger regulator of quality than licensing. Future profits provide a powerful incentive for sellers to maintain a reputation of providing quality goods or services. The existence of many sellers is also a more effective means of ensuring quality than using government.

This highlights an irony of government intervention: regulation and licensing restrict the number of people who can provide a good or service, thereby reducing the discipline of market competition.

How is a Capitalist System Different Than a Free Market System?

The Baptists are the do-gooders who sincerely want to ban something that they feel is bad for society. The bootleggers use the Baptists as cover to gain government protection for their particular enterprise. Much regulation in effect today can be explained by this theory, so a discussion of this theory would have been a good addition to this section of the book.

The third part of the book is, in my view, the weakest. Baetjer dissects the events of the recent financial crisis with insights from earlier in the book. What led up to and what happened during the financial crisis are a textbook example of the consequences of market interventions by government. And here the author does a fantastic job of explaining the important aspects and pieces of the financial crisis. It is a thorough explanation, and my only quibble is that his analysis could have expanded the role played by the three credit-rating agencies.

But this is not why I think the third part is the weakest of the book.

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It is the weakest part because it is vastly more complicated than any other part. Casual readers will stay with the author through parts one and two, but there is a good chance they will become bogged down and lose interest upon encountering chapters on mortgage-backed securities, Fannie, Freddie, Basel Accords, capital-to-asset ratios, and the merits of free banking. Perhaps a different economic episode could have been used to highlight what happens when governments intervene in markets.

An additional topic included in this part probably should have been moved to a second book. As an alternative, the author spends a considerable amount of time discussing free banking. This choice adds to the complexity that already characterizes this section.

He might have been better served mentioning free banking and then referring interested readers to the research of Lawrence H. White and George Selgin. The book finishes on a good note with a discussion of what could happen if markets were allowed to function in the field of education. Here I think the author sows fertile ground for most readers.

vipauto93.ru/profiles/spiare/come-spiare-sms-di-un-cellulare.php Few people would disagree that our current government-run schools are failing to provide adequate education. And most would agree that any market solution would be better than what we currently have. The typical objection to privatizing education is that the poor would be left in underperforming schools or not be able to attend at all. Here Baetjer makes a very compelling case that those objections are unreasonable. First, charity and private organizations will work to ensure that the poor are able to attend private schools.

POLITICAL THEORY - Adam Smith

The author uses his own experience of serving on the board of just such a charity as well as examples from privatizing education in different areas around the world.

Free Our Markets: A Citizens Guide to Essential Economics Free Our Markets: A Citizens Guide to Essential Economics
Free Our Markets: A Citizens Guide to Essential Economics Free Our Markets: A Citizens Guide to Essential Economics
Free Our Markets: A Citizens Guide to Essential Economics Free Our Markets: A Citizens Guide to Essential Economics
Free Our Markets: A Citizens Guide to Essential Economics Free Our Markets: A Citizens Guide to Essential Economics
Free Our Markets: A Citizens Guide to Essential Economics Free Our Markets: A Citizens Guide to Essential Economics
Free Our Markets: A Citizens Guide to Essential Economics Free Our Markets: A Citizens Guide to Essential Economics
Free Our Markets: A Citizens Guide to Essential Economics Free Our Markets: A Citizens Guide to Essential Economics
Free Our Markets: A Citizens Guide to Essential Economics Free Our Markets: A Citizens Guide to Essential Economics

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