Howdy:
Here's my justification for this question: Milton
Friedman declared on C-span that "The Road to Serfdom"
was the book that inspired him to become a
libertarian. So please consider the following:
In the Road to Serfdom, Hayek takes great pains to
distinguish between free vs. competitive markets. The
first are considered to be very contrary to, let's
say, American values, while the latter are considered
to be in line with said values.
Free markets are bad, according to Hayek, e.g. the
monopolist should be the "economic whipping boy" to
such an extent that any monopolist will welcome
competition rather than continue to be a monopolist
and suffer the regulation/abuse of government.
Additionally, Hayek makes clear extensive oppornuties
for government intervention to ensure a competitive
market rather than a free market.
Please, please, please!!! Will the advocates of the
"free" market, and those uninterested who have an
opinion, please rectify their conception of the free
market with the competitive market so that it doesn't
offend "The Road To Serfdom."
Begging enlightment,
jsh
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