Liberty Discussion on “Do We Really Have a Free Market”

Liberty Discussion on “Do We Really Have a Free Market”

Liberty Discussion is a program designed to engage and inform the core members on the ideas of market economy and classical liberal ideas. Discussions are made on the contemporary issues (local or national) through open market perspective. Article is selected and shared within the members to prepare oneself for the program. The program is organized at the venue of Bikalpa – an Alternative on every alternative Saturday (twice a month).

On 29 September 2018, the participants of Liberty Discussion Group sat down at Bikalpa office to discuss whether” Do We Really Have A Free Market”.  There were 12 members in the discussion.

The discussion commenced with how the market is looked upon by common people.  When we live in a democratic country, ignoring politics and the role of economics is close to impossible.  During the discussion, the members claimed that the rule of law, contract enforcement, limited role of government and transparency are the four pillars of a free market. But In the case of Nepal, there is a lack of understanding about the Markets and its work. In Nepal, the free market economy is dominated by cartels and syndicates.  The company has created monopoly power because other competitors cannot match its cost, quality, brand loyalty, among others.

Whatever little degree of Market we have in Nepal so far has been riddled with practices of crony capitalism. There is no equal playing field in the market.  The majority of the wealthy businessman of Nepal have political and bureaucratic connections which tend to lead the market in monopoly. It is extremely essential and critical to the nation’s growth.

The other members also voiced their opinion, saying that Lack of stable policies, security of property rights, widespread corruption, irresponsible government spending and lack of rule of law plague Nepalese economy. So, that has led to a monopoly. These malpractices should be discouraged and everyone should have an equal opportunity to participate in the market.

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