Tuesday, July 10, 2012
A Free Market or a Fair Market? The Neo-liberal Folly of Deregulation
Deregulation of electricity in Alberta has resulted in price manipulation, gouging, and a lack of a reliable supply. Just like neo-liberal deregulation always does. It's never good for the public when when an essential resource is held captive by corporate greed and standards cease to exist. Free trade as it presently exists is just an international form of deregulation. Only those in the corporations are protected and only they benefit. The free market doesn't exist. If not regulated it is dominated by the biggest fish, not the best services and products.The logical extension of the capitalist corporation is a monopoly. They inevitably form as one company gets big enough to buy up its rivals until just it or a few big ones remain, cooperating to keep prices high and wages low. Regulation ensures a fair market, which is much better than a so-called free market. The best arrangement is a free population with a democratic government ensuring a fair market for all and a financial system that awards sound investment instead of hi-stakes gambling.