"Free market" is a euphemism for market anarchy.

"Free market" is a euphemism for market anarchy. It’s lawless. There’s no accountability and no penalties.

We saw this when California loosened energy regulations, which led to the California electricity crisis: The worst power crisis in history. Companies caused rolling blackouts to drive up the cost of electricity. Without regulations, they were free. Free to put their responsibility to the public second to their responsibility to shareholders.

We saw this when the Fed loosened financial sector regulations and kept derivatives completely unregulated, which led to fraud on a massive scale and consequently the Global Financial Crisis and the Great Recession. Tens of millions of people lost their savings, homes, and jobs. Only Iceland’s government held their bankers responsible. Everywhere else, those responsible got away with it because there were no laws saying they couldn’t.

And we’re seeing it happen again as the FCC is loosening regulations. They’re granting internet companies greater self-regulation and “freedom”. Freedom from liability. Freedom to fuck their customers over. Except for the wealthiest customers, of course. Because in a market, votes are cast with dollars.

The wealthy already have too much power over the economy. Why grant them more?