Five Very Dangerous Words

failure of the free market

This is tough to discuss with someone who believes this -- precisely because one has to confront the defective worldview that makes it possible to utter such a phrase.

Now, I want to concede that if there was a place on earth with free markets, the rule of law, government by consent, individual rights, and generally speaking people who believe in right and wrong -- and if there's an inability there to obtain the necessities of life by ones effort -- I'd want to reexamine the following assertion -- when someone says free markets have failed, then we have an error in defining "free markets" or "failure".