Downturn Proof of the Failure of Free Market? Response to Reuters
March 11, 2010
Today I read an article from Reuters that states that the downturn in the economy is proof that the free market is a failure. My first thought was…here we go, let’s give socialism a try…But I want to rebutt that article by telling them to actually READ history books. Thanks to the free market, the United States has come back from severe downturns several times in the past 100 years. That’s right, the failed free market turned around and turned out not to be failure after all. Regulatory measures have been to blame on many ocassions. Also, with a free market there are ups and downs…bubbles burst…the market corrects itself. But in a free market everyone has the opportunity to compete and to succeed. If you fail, you fail…move on. If you are a success…then good job! Who wants a world where there is no failure, no risk, no success stories? Take a look at this link : http://finance.yahoo.com/news/How-free-markets-sank-the-US-rb-3640236057.html?x=0&sec=topStories&pos=5&asset=&ccode=
