Towards the end of July every year the farmers market opens for business in my town. Farmers bring their produce to town, set up tents, and sell their goods. It’s the final reward for all their work toiling the soil to produce their good. I went to the market this weekend and what I saw was a free market that was alive and well.
With little to no government regulation, buyers and sellers meet to exchange money for goods in an unrestricted environment. It’s an absolute thing beauty. Each seller skillfully set their stands up in a manner that is appealing to the buyer. They are competing with each other selling the same produce, so set up is vital. The deliberate and careful placement of goods is a crucial component of the process.
Additionally pricing is essential. They can’t over price their goods because a seller a few yards away might be selling the same produce at a lower price to undercut the prices of their competition. This is called price competition for all those economists out there. So sellers must be mindful of their competitors’ prices. Unless they can offer some type of special carrot that helps you see 10 miles away, they cannot overprice their goods.
The market opens promptly at 9AM. Buyers are standing around, glancing at their watches impatiently waiting for the sound of the whistle to signify an open market. Finally the whistle’s high pitched scream cracks through the air and the buyers are off. Some meander through the crowds while others race to their favorite stands. They examine the produce, picking what they feel is the best quality and then exchanging money with the seller for the good. There are no taxes or no restrictions; just a free market system bringing sellers and buyers together.
It felt natural; the way things should be in America.
As I walked around the market, scrutinizing the produce, I couldn’t help but think that those who seek to destroy the free market will never be successful in their endeavor because of how the free market is so embedded in all of us no matter what political ideology we embrace. You see in America most people still believe in the free market system. They believe that hard work, a good product, and reasonable prices should be rewarded with a purchase or a sale. It’s the natural order of things in America, something that is hard to find elsewhere in the world. This is why Obama and his economic policies are being rejected. He doesn’t get it.
You see the Obama administration is trying to impose more regulations and restrictions on the free market system and they feel unnatural. Americans sense this. I know I do. You don’t need a degree and economics to know that the overregulation of the free market system does not follow the natural order of the system. In fact it actually hurts it by not allowing it to correct itself when a downturn occurs. This is why the American people are not buying it. They understand all the good and financial rewards the free market system offers to both the buyer and seller and they don’t like what this administration is doing to it.
The look in the eye of the buyers and sellers is something that cannot be measured or written about in some economic plan or report. It’s something that must be experienced to understand its remarkable influence on the overall economy; this why team Obama doesn’t get it. As much as they want to say they understand the dynamics of a free market system, until they get down in the trenches and feel it, they will never be able to wrap their tiny brains around it.
The free market is alive and well in America. I witnessed it this weekend at the farmers market.
Liberty forever, freedom for all!