#business #economic # [[Epistemic status]] #shower-thought # Related - [[Philosophy/Humans/Trade]] - [[Philosophy/Humans/Efficient market]] - [[Philosophy/Humans/Politic/Trade beget the state]] - [[Philosophy/Humans/Natural price]] # Free market A free market is a type of economic system that allows for the free exchange of goods and services between people and businesses without any government intervention. This type of market relies on the laws of supply and demand, allowing prices to be determined by the interaction of buyers and sellers. In a free market, businesses have the freedom to produce whatever goods and services they choose, and buyers have the freedom to purchase whatever goods and services they want. This system allows for a more efficient allocation of resources and encourages competition, which can lead to lower prices, higher quality goods and services, and increased innovation. >The message from history is so blatantly obvious – that free trade causes mutual prosperity while protectionism causes poverty – that it seems incredible that anybody ever thinks otherwise. >~ [[Biology/Matt Ridley|Ridley]] I.e. [[Philosophy/Rationality/Models/Antifragility|antifragile]] # External links