Friday Discussion on Myth of Market

Friday Discussion is a program designed to engage and inform the core members on the ideas of free market economy and classical liberal ideas. Discussions are made on the contemporary issues (local or national) through free market perspective. Article is selected and shared within the members to prepare oneself for the program. The program is organized at the venue of Hotel Namaskar, Biratnagar on every alternative Friday (twice a month).

The members of the Friday Discussion Group sat down at Hotel Namaskar Bar , on the 18th of November to discuss the article “Myth of Market”.

During discussion, the participants had different opinion regarding the Article.  Participants put their insights regarding the topic. Discussion started with Market is only the tool for economic transaction in the society.  It is solution for economic problem in society. Since many of us hold, a mythical notion that market is panacea to every economic evil. Anything that could go wrong and that has gone wrong is being blamed upon markets. Disagreements were floated on myth of markets. In an unrestrained environment, the market can manipulate the small business organization. It would lead to create cartels and syndicate, which had wrecked havoc on the overall economy through monopoly. Due to markets being too free, it would lead to inequality in society. Arguing on it some put their forth on we forget that Market can only operate freely if it is free of interference from the government (or politics for that matter). The heavy hand of governments that hold every sector reeks from control or sponsored distortions leads to cause market failure. Since Market is factor for economic growth, is still in the grips of the government which not good for development of country.

 

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