EvMick@aol.com wrote:
> It Appears that once upon a time :
>
> > > rowen@technologist.com writes:
> > >
> > >if the "free market" really worked it would be innovative;
>
> To Which I replied...
> > >
> > > It's kinda hard to tell if it will work or not....I know of no example
> > where
> > > it's been tried. What has been called free was in reality just less
> > > regulated.
> >
>
> To which rowen@technologist replied...
>
> > There is an interesting paper on this, CAPITALISM: A TREATISE ON
> > ECONOMICS by George Reisman. Permit me to quote a bit from it:
> >
> <snip large portion of quote with which i mostly agree>
>
> > The freedom of production in the United States led to an unprecedented
> > outpouring of innovations—to the steady introduction of new and pre-
> > viously unheard of products and to the constant improvement of methods
> > of production. This, along with the constant availability of an adequate
> > supply of savings to implement the advances, produced the most rapid
> > and sustained rate of economic progress in the history of the world. [39]"
>
> Now isn't this a contradiction? It seems that a free market DOES produce
> innovations.
>
> I contend that it does. I also contend that the degree of freedom of the
> market and the quantity of
> Innovations are directly proportional. Agreed that the eara (pre income tax)
> that you
> reference is less restrictive than now...but it was not a true 'free
> market'.....there were
> still taxes and regulations....(the whiskey rebellion comes to mind).....just
> not as stifleing
> as currently exist..
The point I made in my original post, EvMick, was that "if the free market worked it would be innovative". What was illustrated in the quotation above was a time when it DID more-or-less work and I chose a passage deliberately that included reference to "an unprecedented outpouring of innovations".
I don't see any reason why one must be a "capitalist" to see the virtues of a free market. Without any currency ("capital") a free market bartering system would not require any centralized regulation. Although such a system is inappropriate for macro economies, I use this procedure all the time in my local micro economy. My eldest son just acquired a B&W cycle by laying a massive concrete slab for four-car garage and framing it. I do computer repair, tutor computer operations, and act as a free-lance system purchasing agent for the sheer pleasure of being paid in kind. Never really cared for money -- I like vis-a-vis trade. The "value" negotiations involved can be quite a challenge, but I love it. All very neurotic, I suppose. I earn a very good salary, so why.....
Regards,
Bob