Difference between revisions of "Myths/markets regulate themselves"
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{{hdr/myth|Business doesn't need government regulation; a truly [[free market]] will regulate itself.}} | {{hdr/myth|Business doesn't need government regulation; a truly [[free market]] will regulate itself.}} | ||
| − | == | + | ==Myth== |
| − | + | ==Reality== | |
| + | Markets don't "regulate themselves" in the sense of limiting abuse. When economists talk about how a market "regulates itself," what they mean is that markets reach an equilibrium between supply and demand. This says nothing about whether or not this equilibrium will be a good thing for society.<ref name=dkos1 /> | ||
| + | ==Sources / Credits== | ||
| + | <references> | ||
| + | <ref name=dkos1>'''2014-02-03''' [http://m.dailykos.com/story/2014/02/03/1271430/-25-Images-of-Markets-Regulating-Themselves 25 Images of Markets "Regulating Themselves"]</ref> | ||
| + | </references> | ||
Revision as of 21:38, 1 June 2015
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| This article is under construction and should not be used as a reference. |
[[category:myths|Business doesn't need government regulation; a truly free market will regulate itself.]]
| Myth: Business doesn't need government regulation; a truly free market will regulate itself. |
Myth
Reality
Markets don't "regulate themselves" in the sense of limiting abuse. When economists talk about how a market "regulates itself," what they mean is that markets reach an equilibrium between supply and demand. This says nothing about whether or not this equilibrium will be a good thing for society.[1]
Sources / Credits
- ↑ 2014-02-03 25 Images of Markets "Regulating Themselves"