- Posted October 19, 2012 by
This iReport is part of an assignment:
Calling all cartoonists
The Illusion of a "Free" Market
The republicans say government is the problem. Well without government support the entire capitalist system would have collapsed in 2008 and multiple other times throughout American history.
Anybody who believes the US is truly a capitalist free market is fooling themselves. In a truly free market there are no age restrictions, no labor laws, no banned materials and no taxes, which means no communal military, roads and schools. These sorts of institutions are actually socialist.
The 2008 economic crisis disproved the practicality of "laissez faire" economics because when unregulated humans engage in selfish, risky behavior that puts the entire system at risk.
Therefore governmental regulation is needed to keep the market in check and balanced.