Issues in economics September 2019



Economic freedom.


Complete economic freedom results in all wealth moving into a small number of hands and everyone else starving to death, e.g. france immediately prior to the french revolution.

This happens as in a free system prices are bidded down until they reach close to zero.



Alternative systems to this.


1) Regulation requiring moderate to high minimum wages.

2) Groups of people acting together. This results in wealth to the group by sometimes involves the others that they are in opposition to ending up very badly.