Let us begin with a discussion of a working definition of markets. - TopicsExpress

Let us begin with a discussion of a working definition of markets. Markets are simply millions upon millions, and internationally billions upon billions, of individual decision-makers, engaged in the pursuit of what they determine to be their best interests. We say that the market is free if it is characterized by peaceable, voluntary exchange, private property rights, rule of law, and limited government intervention and control. While some people denounce free markets as immoral, the reality is exactly the opposite. Free markets are more moral than any other system of resource allocation. Let’s talk about the moral superiority of free markets. fee.org/the_freeman/detail/walter-williams-at-fee

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