[skookumchuck]

Was it a perfect free market? Nope. Nothing human is perfect. But it was a workable approximation of one.

[Apocryphon]

This isn’t a moral judgment. But a market propped up with strong tariffs is by definition not a free market. The American economy you’re lauding was a mixed economy.

[skookumchuck]

You can't make water 100% pure, either. That doesn't mean you're not drinking water.

Your claim that it must be perfect to be considered a free market is argumentative, not substantive.

[Apocryphon]

Ha-Joong Chang might disagree[0], but okay I’ll dodge the No True Scotsman accusation.

What’s your definition of free market, then?

[0] https://www.independent.co.uk/news/business/comment/ha-joon-...

[skookumchuck]

It consists of transactions among freely consenting adults that do not use force or fraud.

[Apocryphon]

Sounds like that's compatible with the German social market, or Nordic social democracy. Or even the protectionist Asian Tiger states.

[skookumchuck]

The law is use of force. Examples: setting wages, employment terms, price setting, quotas for women on corporate boards, etc.

Protectionism isn't free market, either.

[xg15]

Power imbalance is ok though.

[skookumchuck]

What can Bill Gates make you do?

[ionised]

That's just trade.