ACCOUNTING FOR A FREE MARKET & THE WGA WRITERS STRIKE

Anne Wayman at The Golden Pencil started a discussion on the WGA Strike which attracted a lot of discussions and comments (http://www.thegoldenpencil.com/2008/01/16/writers-strike-and-the-myth-of-the-free-market/).
One of the central issues was the existence or non-existence of a free market.

A free market works efficiently & effectively if two conditions are present in the market:
1 if the operators / competitors in the market are more or less on an equal footing (i.e., in numbers, in financial capabilities, in access to resources & markets, etc). Otherwise, you have an oligopoly or cartels where the big operators act in concert (whether by design or …read more