We don't have a laissez-faire free market system here unfortunately and nobody in Congress is introducing anything to prohibit the shutdowns, the stay-home orders, or the face-mask orders for that matter. (The constitution applies, but is not being enforced.) If they aren't going to do any of that, they should do this.
What we have is neoliberalism where corporations use the government to create markets for their products. Such as the "banana republics" in Latin America during the 20th century, where we went to war for the benefit of the United Fruit Company.
"Within the realities of neoliberalism “the state must be an active force, and cannot simply rely on ‘market forces’” to function coherently. Rather by supporting bureaucratic technocracy and the wisdom and power of centrally-planned corporations, a quasi-market state hybrid is developed which requires subsidisation of distribution and output. The major ways of doing this are through either state regulation, which puts up entry barriers to other competitors and limits the competitive impetus of functioning free markets, or through the development of financialisation and rentierism which warp time preferences and allow for the soaking up of overproduction in an unfree economy. Entry barriers originating from the large state monopolies, such as intellectual property, the money monopoly and transport subsidies create large economies of scale while subsidising the diseconomies, meaning artificially high overhead and capital costs which limit the ability of potential entrepreneurs to compete and engage in market activity and price discovery.
On the other side, the use of financial markets to soak up excess capital goods leads toward a financialised economy where time preferences are made much shorter due to a desire for immediate profit, and where rentierism becomes the norm of wealth production. Established companies benefit through more access to debt and capital markets, and financiers can hedge bets on the performance of company debts and stocks. A Misesian concept of financial markets functioning to efficiently allocate capital to businesses and entrepreneurs is thrown out the window when land-value speculation, currency manipulation and the desire for short-term profit over long-term medium gains become the existing function of said markets. In effect what is seen is a privatisation of profits, and the socialisation of losses. To describe such a system as related to free market activity would be laughable if weren’t actually being done."
We don't have a laissez-faire free market system here unfortunately and nobody in Congress is introducing anything to prohibit the shutdowns, the stay-home orders, or the face-mask orders for that matter. (The constitution applies, but is not being enforced.) If they aren't going to do any of that, they should do this.
What we have is neoliberalism where corporations use the government to create markets for their products. Such as the "banana republics" in Latin America during the 20th century, where we went to war for the benefit of the United Fruit Company.
"Within the realities of neoliberalism “the state must be an active force, and cannot simply rely on ‘market forces’” to function coherently. Rather by supporting bureaucratic technocracy and the wisdom and power of centrally-planned corporations, a quasi-market state hybrid is developed which requires subsidisation of distribution and output. The major ways of doing this are through either state regulation, which puts up entry barriers to other competitors and limits the competitive impetus of functioning free markets, or through the development of financialisation and rentierism which warp time preferences and allow for the soaking up of overproduction in an unfree economy. Entry barriers originating from the large state monopolies, such as intellectual property, the money monopoly and transport subsidies create large economies of scale while subsidising the diseconomies, meaning artificially high overhead and capital costs which limit the ability of potential entrepreneurs to compete and engage in market activity and price discovery.
On the other side, the use of financial markets to soak up excess capital goods leads toward a financialised economy where time preferences are made much shorter due to a desire for immediate profit, and where rentierism becomes the norm of wealth production. Established companies benefit through more access to debt and capital markets, and financiers can hedge bets on the performance of company debts and stocks. A Misesian concept of financial markets functioning to efficiently allocate capital to businesses and entrepreneurs is thrown out the window when land-value speculation, currency manipulation and the desire for short-term profit over long-term medium gains become the existing function of said markets. In effect what is seen is a privatisation of profits, and the socialisation of losses. To describe such a system as related to free market activity would be laughable if weren’t actually being done."
Source for quoted paragraphs: https://thelibertarianideal.com/2016/09/02/neoliberalism-is-not-the-free-market/
This bill does correct for some problems with our current non-free market system.