Free Market?

 Robert Reich

I'll say it again, there is no "free market" without government. Even the basic building blocks of the market depend on government decisions:

(1) Property – There are rules about what can be owned, and for how long? (Think about how patent laws have changed over time.)

(2) Contracts – There are rules about what can be sold, and under what terms. (Consider the debate about human organs, or opioids for that matter.)

(3) Market power – There are rules about how much is permissible. (Keep in mind that big tech is still not broken up despite the massive market share.)

(4) Default – There are rules about what happens if you can’t pay up. (Consider that people who default on student loans almost never qualify for declaring bankruptcy.)

(5) Enforcement – There are rules about how are all these enforced. (Think about how much companies are required to pay in fines when they've broken a rule and whether that disincentivizes that behavior or not.)