Free Market Definition

The "free market" has never been a thing

Don't confuse free with unregulated. Not even Adam Smith wanted unregulated markets. Free simply means everyone is equally free to play in the same market created by a system of laws and equal enforcement. And I doubt you'll find anyone defending monopolies or duopolies. All systems are corrupted, we just try to minimize it when we can.

https://news.ycombinator.com/item?id=29184492Free markets aren't really about solutions as much as they are as complete economic freedom as possible. Markets are regulated and business operates under license, and the intent is more "fair" markets than free ones.

no, I'm saying free market does not mean laissez-faire

What you describe doesn't sound like a free market, which assumes the product is freely available.

Problem is, free market is not a panacea. You can't say well if thing X is free market then it would exist.First free market is an illusion that probably never existed unless you count the really rudimentary communities. The laws that make a free market a non-free market aren't bad, like banning child labor or reducing work hours to 40, etc.Second even in free market you can get monopolies, once all players consolidate or make deals. Then you lose any benefits of free market if p

"Free market" does not mean a market without any regulatory structure. A market in which monopolies have formed is not free, as monopolies can force conditions on transactions that would not exist if multiple independent and competing parties were able to participate on the supply side.

Sounds like you want to say autonomy instead of free market?

I too thought "free market" was all about competition. Explain pls?

This is a common misconception (I blame American politics). In _perfect competition_ this would hold true; however a _free_ market is not guaranteed to be competitive, much less close to _perfect_ competition.