A FREE-ER MARKET
One of the perpetual myths of our so-called capitalist society is that we have the closest approach to a "free market", and that this is all to the good as it connects with our other freedoms. Is this true ? Certainly some like the left libertarians who are in favour of an actual free market would disagree with the idea that our present system is approximating an such thing. The left libertarians are actually quite the dissidents as not just apologists for the present order but "critics" such as academo-Marxists assume that free market describes the present state of things. The proof of the assertion that we don't live in a free market I will leave to the left-libs with their criticism of the many monopolies that states grant to certain insitutions and individuals but not to others. I can do more better than recommend the works of Kevin Carson, an outstanding modern exponent of their views.
How a real free market differs from what we call it today can be found in what is called dynamic pricing. This goes along well with internet marketing as it consists of constantly chaging prices to reflect an actual "market in the here and now". Obviously not all goods can be sold in such a way, and the ability of this much closer representation of marginal utility to the purchaser says nothing about the various advantages (monopolies) granted to some venders but not others prior to placing the commodity on the market.
I came about this interesting development in a recent (Jan 21/2013) issue of Time Magazine. The article was titled 'This Offer Won't Last: Why Sellers are Switching to Dynamic Pricing' (page 56). I strongly recommend this article on how our version of a "market" is evolving back to how town markets used to be and still are in many minor ways
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Dynamic pricing is simply the trade term for what the economists call price discrimination. A free-er market, characterized by perfect competition and perfect transparency and information symmetry, would produce the exact opposite result, the so-called law of one price.
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