Conversations on more than 50 actions to expand freedom in the United States
"A billion people have been lifted out of poverty since 1990 because their
countries moved toward more market-based economies—a billion people."
(Gary Becker, Nobel economist, Wall Street Journal, A13, March 27, 2010)
Prices play an essential role in free markets.
When demand exceeds supply, prices go up and the situation corrects.
When supply exceeds demand, prices go down and the situation corrects.
When the government intervenes to affect supply or demand, or to control prices, the
result will be either shortages or surpluses.
Government involvement in private markets gives rise to special interests.
(See "Interventionism and regulation" and "Economics")