Markets are a place where buyers and sellers come together and exchange money for goods and services.
Markets exploit. Example: the labor market; individuals are forced among unfavorable options to work for the enrichment of business owners otherwise they will end up on the street. Business owners themselves do not face this choice; they have their capital to fall back on. Another example is the housing market where the wealthy have bid up housing as a financial asset, so the working class pays a larger and larger share of income to banks and rentiers, a cash flow from workers to the wealthy. Now people are making ‘choices’ here so supposedly that means markets are expression of free desires. But when one’s choices are constrained due to the power differential between the haves and have nots, the choices are not a free choice. To have actual agency you have to have power, but the power is in the hands of the ownership class.
Maybe you think markets are a necessary evil. But they are not some bastion of freedom like you suppose. That is absurd. We should look at markets for what they are not to candy coat them.
Markets exploit. Example: the labor market; individuals are forced among unfavorable options to work for the enrichment of business owners otherwise they will end up on the street. Business owners themselves do not face this choice; they have their capital to fall back on. Another example is the housing market where the wealthy have bid up housing as a financial asset, so the working class pays a larger and larger share of income to banks and rentiers, a cash flow from workers to the wealthy. Now people are making ‘choices’ here so supposedly that means markets are expression of free desires. But when one’s choices are constrained due to the power differential between the haves and have nots, the choices are not a free choice. To have actual agency you have to have power, but the power is in the hands of the ownership class.
Maybe you think markets are a necessary evil. But they are not some bastion of freedom like you suppose. That is absurd. We should look at markets for what they are not to candy coat them.