"Free Markets are Free Speech. It's That Simple"
Bravo, Nicole Gelinas, for drawing the connection between China's treatment of Ai Weiwei and its treatment of Unilever:
In the week and a half since the Chinese government detained artist Ai Weiwei on suspicion of "economic crimes," Western governments and the global arts community have condemned China's repression of free speech. Regular Americans, too, should care about China's habit of stifling information that it doesn't like to hear. China is applying the same habit to another type of speech, economic speech. And the results could hit Americans more directly — in the pocketbook.
Nicole points out something that cannot be pointed out enough: Prices convey information. Interfere with the free flow of information at your peril.
I'd use a slightly different taxonomy: It is not so much that free markets are, literally, free speech, but that both are essential aspects of freedom. Not only is it inherently wrong to limit freedom, but if you gag either one, you shoot yourself in the foot--and, in this case, you shoot the rest of the world, too.
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Jan '11
Re: "Free Markets are Free Speech. It's That Simple"
Gee golly, whatever happened to economic freedom in COMMUNIST China opening the door to all the other kinds of freedom?
May '10
Re: "Free Markets are Free Speech. It's That Simple"
Excellent point, Claire.
Prices are as transparent an understanding as we can have into the market. It is an illusion that many have that there is some objective price of anything.
All of our markets in the US that don't work (healthcare, flood insurance etc) don't work because the price of services is manipulated. Information is lost.
This raises a question for me? Are price controls a form of the government lying to the citizens?
Aug '10
Re: "Free Markets are Free Speech. It's That Simple"
Exactly right, Claire. Adam Smith's The Wealth of Nations is as important a document as the Declaration of Independence, coming as it did in an age of royal monopolies and licenses, crown tariffs and taxation.
Reagan once said, "There is no freedom without economic freedom."
May '10
Re: "Free Markets are Free Speech. It's That Simple"
To me this point (with which I agree completely) highlights the relation between freedom and truth.
When we don't have access to truth--when we're lied to--we're rendered objects of manipulation instead of free, responsible, self-standing agents we were created to be.
Real journalism is based on respect for persons; propaganda on contempt. Free markets are the only ones worthy of persons.
Jan '11
Re: "Free Markets are Free Speech. It's That Simple"
Markets and speech share a peculiar quality: if you limit it, it becomes more valuable.
Jul '10
Re: "Free Markets are Free Speech. It's That Simple"
In Obama's world, Yer Free to buy insurance or face fines and/or jail.
Jun '10
Re: "Free Markets are Free Speech. It's That Simple"
China's centrally-controlled economy that fixes prices, wages and tells companies what they can and cannot say is Obama's model for America. I suggest a swap: Ai Weiwei for Barack Obama...no questions asked, quietly at night when everyone is asleep.
Sep '10
Re: "Free Markets are Free Speech. It's That Simple"
Price discovery is a process that needs free speech and free markets. In my opinion, the government's legitimate roll is to make sure markets are fair and transparent and that property rights are protected. I dare say everything else that governments do creates noise that impedes the process. Price controls are an outrageous example - thank you Senator Durbin - but so is inflation that makes the currency less valuable. I also believe that just as too much currency in circulation debases the currency so too many laws on the books debases the law. When regulators are allowed to make law this problem is compounded and respect for the law is diminished.