The free market is excellent at producing, at a reasonable cost, myriad voluntary luxuries like large televisions and speedy cars. These prices are naturally constrained by the consumers’ willingness to do-without. When the consumer cannot rationally choose to do-without, the elegant self-regulation intrinsic to the free market evaporates.
The free market is excellent at producing, at a reasonable cost, myriad voluntary luxuries like large televisions and speedy cars. These prices are naturally constrained by the consumers’ willingness to do-without. When the consumer cannot rationally choose to do-without, the elegant self-regulation intrinsic to the free market evaporates.