Free markets and Marx

 

To the editor,

 

The economic history of the US proves that free markets can only operate successfully through undeviating support and direct intervention of an unfree government. In other words as both Marx and Polanyi have proven historically a self-regulating market cannot work even in the short run. Even advocates of a self-regulating market are the first to ask for help. Protection of their investments and their private property is of primary importance. Social programs that help the poor are then seen as offensive; no matter it is the poor who create their wealth through their honest labor. We citizens are told that a free market requires ensuring that the authority of the property owners be maintained against any possible claims from their employees. Tax breaks, government contracts, and subsidies and yes government bailouts are dirty little secrets. Working folk of have fewer tax breaks; any government assistance to the poor is under attack. If business profits decline it is acceptable to lay employees off. If one can find cheaper wageworkers elsewhere is that ok? Rising wages cuts into profits, never mind the whole reason to employ some one is to make profits for the entrepreneur. When a product is sold the money made goes into paying for material costs, wages and of course profits. Wages must be kept low. Add to this over production and wild speculation on short-term investments is it any wonder that the history of the US economy is a history of big government exists only to save free markets from itself. It is the business promoters of small government, if truth were known, are the real advocates of big government and swollen bureaucracies.

 

 Michael Joseph Francisconi

Dillon