I googled “are there any countries where completely free markets have produced wide ranging good outcomes” … the AI response is copied below … my concerns are captured well in the last three bolded sub-headings.
So, it seems to me what you pine for doesn’t strictly exist anywhere on the planet … maybe that’s why Musk is hell bent on claiming Mars?
8)) Dex
[[[[[ No country operates with entirely uninhibited free markets, but those with highly free markets, like Singapore and Switzerland, tend to show wide-ranging positive outcomes.These include strong economic growth, innovation, and high living standards.However, it's important to note that even in these countries, some level of government intervention and regulation exists.
Elaboration:
Singapore and Switzerland as examples:
Singapore and Switzerland are frequently cited as countries with highly free markets and strong economic performance.They consistently rank high in economic freedom indices, indicating a low level of government intervention in the economy.
Benefits of free markets:
Free markets, characterized by limited government intervention, can lead to several benefits, including:
Increased economic growth:The ability of businesses to respond to market forces and innovate without excessive restrictions can drive economic growth.
Higher living standards:Free markets can lead to increased productivity, competition, and consumer choice, which can contribute to higher living standards.
Innovation and technological advancements:Free markets incentivize businesses to invest in research and development, leading to innovation and technological advancements.
Greater wealth creation:The ability of individuals and businesses to pursue profits in a competitive environment can lead to greater wealth creation.
Limited complete freedom:
It's important to remember that no country has a completely free market without any government involvement.Governments typically play a role in regulating certain aspects of the economy, providing social safety nets, and ensuring fair competition.
Balancing freedom and intervention:
Finding the right balance between free markets and government intervention is a complex issue.While free markets can bring significant benefits, there can also be potential downsides, such as income inequality and market failures.
Other factors:
It's also important to consider other factors that contribute to a country's economic success, such as its political stability, education system, and infrastructure. ]]]]]
