Agreed, no one says the market can withstand unlimited illegal acts.
There are also acts which are not illegal but legal within the bounds of the international marketplace. Walmart is a legal act, but that is far too easy. Eliminate the competetion by volume. Corner the world market on cheaply made goods. Buy low high volume, sell low high volume, but sell relatively real price high and high volume. Exploit world market ineqities in labor prices caused by world market forces of overpopulation and poverty.
Another would be to exploit market inequities caused not by market forces per se but by circumstance of source and resource and personal holdings. Is OPEC a market, a state, a private enterprise collaborative, or a princely fiefdom?
Another example, more troubling even, would be ships which fly the Liberian flag unregulated for safety or seaworthiness, and while still afloat on the high seas, ship hazardous chemicals worldwide with impunity.
Another example, this time to argue for natural market forces with limited oversight, would be the world diamond market. The market is normally driven by efficient market forces. In 2000 and 2001, Al Queda operatives sold extensive reserves of diamonds bought in Liberia and other gems, tanzanite from Tanzania legally, to finance illegal terrorism. The sales were legal. The sudden glut of gems on the market drove prices substantially higher. No one knew who was selling or why the market was distorted. There was no oversight In this case it was not distortion for personal gain but rather to finance worldwide destruction under the cloak of a free market. Perhaps this is an anomaly.
You are right. The market does work without initiating force. Some limited oversight may always be needed to see that it continues to be free.
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market distortion
Agreed, no one says the market can withstand unlimited illegal acts.
There are also acts which are not illegal but legal within the bounds of the international marketplace. Walmart is a legal act, but that is far too easy. Eliminate the competetion by volume. Corner the world market on cheaply made goods. Buy low high volume, sell low high volume, but sell relatively real price high and high volume. Exploit world market ineqities in labor prices caused by world market forces of overpopulation and poverty.
Another would be to exploit market inequities caused not by market forces per se but by circumstance of source and resource and personal holdings. Is OPEC a market, a state, a private enterprise collaborative, or a princely fiefdom?
Another example, more troubling even, would be ships which fly the Liberian flag unregulated for safety or seaworthiness, and while still afloat on the high seas, ship hazardous chemicals worldwide with impunity.
Another example, this time to argue for natural market forces with limited oversight, would be the world diamond market. The market is normally driven by efficient market forces. In 2000 and 2001, Al Queda operatives sold extensive reserves of diamonds bought in Liberia and other gems, tanzanite from Tanzania legally, to finance illegal terrorism. The sales were legal. The sudden glut of gems on the market drove prices substantially higher. No one knew who was selling or why the market was distorted. There was no oversight In this case it was not distortion for personal gain but rather to finance worldwide destruction under the cloak of a free market. Perhaps this is an anomaly.
You are right. The market does work without initiating force. Some limited oversight may always be needed to see that it continues to be free.