25 Horrifying Images of the “Free” Market at Work – [alternet.org]

When economists talk about how a market “regulates itself,” what they mean is that markets reach an equilibrium between supply and demand.

This says nothing about whether or not this equilibrium will be a good thing for society. It simply states that if consumers choose what to buy and producers choose what to sell and how to produce it, the market settles on a product distribution and prices.

Lately, many people I know have argued that “free markets” mean something more. They see markets as ethically right or ethically moral, meaning pursuit of profit always somehow leads to a greater good.

Unfortunately, morality isn’t built into markets.

via 25 Horrifying Images of the “Free” Market at Work | Alternet.

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