America was founded with a free market in mind. Again, keep in mind, Adam Smith had a philosophy of using the free-market mechanism to yield legitimately pluralistic, democratic results. His philosophy did not create the risk associated with free-market mechanics, which economists refer to as the alpha-risk proportion.
In the alpha-risk dimension, risk is not consolidated. When the risk becomes consolidated, it is not a free market anymore. Saying it is, when it measurably is not, demonstrates ignorance, or a knowing and willing fraud, when capitalists deliberately attain “scale” to expand the profit margin.
When Senator Sanders says “fraud is a business model,” he is referring to acting like we are operating with a free-market model when we deliberately are not! This results in attribution error.
Without a fundamentally sound attribution, what causes a problem, or set of problems, is just a matter of opinion–politics!–and thus THE problem the Vienna School, for example, recognized to be the dysfunction–the infinitely immeasurable quantity–of philosophical discussion.
The probable risk, however, is not an immeasurable quantity. Different philosophies cause measurably different risk-values. A free-and-open-market in priority is one such philosophy of the risk that “We” say we want to see but (like Thomas Jefferson was apt to say) if we need a Federal Open Market Committee to see it, what is its real, measurable existence?
Just like today’s left-wing critique of the TBTF proportion, Jefferson (a “Republican”) was strongly opposed to the Hamiltonian business model. If the financial sector owns everything (debt by extension of the rents, like the kings, nobles, lords, vassals, serfs, and peasants), what’s the progress being made?
The result of the Hamiltonian model is consolidation of the wealth and, like we see, consolidation of political power.
O say can you see… is that what “We” want it to really be?
Always keep in mind (like I keep telling you), there is a natural-law symmetry associated with the risk proportion.
Philosophy does not create (conceive) the fundamental risk-value. The free market exists (yielding to an on-demand existence) no matter what…and that is why capitalists are always hard at work resisting it.
A free market is plain to see, and it really, surely, has to be, because we have the FOMC. Right?
The bureaucratic model is there…we just need to know what to actually do with it!