What Is The Greatest Weakness Of The Free Market?

What is the greatest weakness of the free market? In other words, even though the free market is the best means for prosperity and justice and peace it still is not without problems.

The market is merely the communication vehicle that conveys the imperfect knowledge that humans have in a world of uncertainty. Hence the greatest weakness is also its greatest strength. The free market is the best means of allowing the flow of knowledge - imperfect as it is - in a way that ameliorates the uncertainty in an optimal way.

All human intervention is a corruption since it adds another layer of the imperfect knowledge (due to the finite nature of human understanding) which, in turn, creates even more uncertainty. That is why the free market is best when it is unhampered.

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The Omniscient Quality Of Knowledge Flows In A Free Market.

Ignorance and latency are two barriers blocking individuals from an ever-flowing stream of knowledge and additionally - at the level of civilization - it is only an unhampered market economy that providentially supplies an unimpeded flow of the inextinguishable knowledge.

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The Universal Human Language Is The Free Market!

The free market does what language does.

The free market is the universal language that brings about social cooperation and social coordination. The words of the language are the prices of all the goods and services of the people of the world. The letters making up the words are property rights and subjective valuations and therefore the letters are from the alphabet of liberty and justice.

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Why Divine Economy Theory?

No longer is it necessary or even desirable to separate the study of economics from the study of ethics or from the study of law.

Divine economy theory is comprehensive, using state-of-the-art subjectivist methodology in the unfolding of macroeconomics, microeconomics, ethical economics, and economic justice.

Divine economy theory is a very exciting modern-day extension of classical liberalism and it is a valuable tool to be used to construct an ever-advancing civilization upon an unshakeable foundation of liberty and justice.

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The Modern Definition Of Laissez-Faire.

Planning the economy versus not planning the economy is not the real essence of laissez-faire, at least not in a modern sense.

The issue is corruption. Can the necessarily finite comprehension of an infinitely complex and intricate system of cooperation lead to anything other than a distorted and erroneous view of what is real and will it lead to anything other than a distortion of the operation of the market process? Who could possibly claim the ability to comprehend the incomprehensible other than someone who is ego-driven?

In a modern sense the choice is either laissez-faire (synonyms: free market, unhampered free market, divine economy) or a corrupted economy.

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Mises Institute Fulfills Murray Rothbard's Dream.

The Mises Institute is very much modeled after this premonition of Murray Rothbard either deliberately from its origin or as it unfolded. The Mises Institute definitely provides a universal nurturing environment for scholars and for interested persons to gain confidence and recognition.

I am curious about the publishing of scholarly work, is there an opening for new classical liberalism theoretical works, specifically, the divine economy theory? If so please let me know.

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