This word gets thrown out a lot whenever people bring up free market alternatives or solutions to existing problems. Is it just a smear term intended to imply dogmatism or a genuine misunderstanding of what free markets are and how they operate?
There is a substantial article on "Market Fundamentalism" on Wikipedia, here. "Free Market Fundamentalism" automatically links to the same entry.
Is it just a smear term intended to imply dogmatism or a genuine misunderstanding...
Based on the Wikipedia article, I would say yes, i.e., it's both. And more: a smear and a misunderstanding by people who evidently don't want to know the truth.
...how about filling it out a bit by describing some of the fundamentals of free market trade.
A concise overview of the Objectivist philosophical position on "Free Market" can be found under that topic in The Ayn Rand Lexicon. For more detail and an extensive list of references, there is also Ayn Rand's book, Capitalism: The Unknown Ideal.
answered Dec 23 '10 at 01:20
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