Debate:Is free market economics possible in actual practice?

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Most Americans would say yes, and point to the United States as the best example. Marxists and other socialists would say no, but I think they are being deceitful; they simply dislike any system which lets other people get rich by virtue of foresight, ingenuity, and hard work. --Ed Poor Talk 10:49, 10 July 2007 (EDT)


Classical economics assumes that the marginal actors have all the information available to them at zero cost and are rational. Recent research has called into question these assumptions, especially for ordinary people in society. GregG 09:20, 9 May 2013 (EDT)

I, unfortunately have to fall on the side of "NO" on this one. I am a strong supporter of free-market capitalism, however it, much like socialism/Marxism on the other end of the spectrum, is only really viable in theory. Ironically, both extremes fail for exactly the same reason when put into practice in the real world... they both assume all "players" will act honestly and in the most intelligent way possible. However, the real world doesn't work this way. Greed, corruption, ignorance and other factors always conspire to disrupt the system over the long term. Fnarrow 23:34, 9 May 2013 (EDT)