Free market more popular in Germany and China than in America

[^_^ 5,021]

In 2002, 80% of Americans agreed that the world’s best bet was the free-market system. By 2010 that support had fallen to 59%, only a little above the 54% average for the 25 countries polled.

...

Capitalism’s waning fortunes are starkly visible among Americans earning below $20,000. Their support for the free market has dropped from 76% to 44% in just one year. The research was conducted by GlobeScan, a polling firm. Its chairman Doug Miller says American business is “close to losing its social contract” with average families.

http://www.economist.com/node/18527446?fsrc=scn/fb/wl/ar/marketofideas

[Mr. Big Dog 10,747]

I think the term 'free market' is understood differently in different places. Germans still tend to think of free markets as in Ludwig Erhard's model of free markets. That model included regulation to ensure that the markets continued to exist - i.e. had sufficient regulatory counterweight built in against a natural tendency toward monopolies which typically destroy markets.

[mawilson 2,133]

The free market system does suck for many people. Their jobs are moving to China

(yay, free market!), their wages are stagnant or declining (yay, free market!) and

their private health care is expensive (yay, free market!)

[Mr. Big Dog 10,747]

The free market system does suck for many people. Their jobs are moving to China (yay, free market!), their wages are stagnant or declining (yay, free market!) and their private health care is expensive (yay, free market!)

Truth is the truly free market doesn't work. It's self-destructive by design.

[Obama 2012 1,714]

The free market system does suck for many people. Their jobs are moving to China

(yay, free market!), their wages are stagnant or declining (yay, free market!) and

their private health care is expensive (yay, free market!)

a shame none of that is because of 'free market' and more on the lines of government intervention driving business away.

[Mr. Big Dog 10,747]

a shame none of that is because of 'free market' and more on the lines of government intervention driving business away.

Not true at all. Tariffs are what used to keep jobs here. Tariffs are not free market forces but government intervention - they are protectionism. Then came free trade agreements - the bilateral take-down of protectionist government interventions. And off the jobs went...

[Darnell 8,479]

Hey G-Slash - interesting topic - but

those 2 countries have different definition of 'free market'

and it's not the same, between them, as well

which slips sideways to the definition of 'Free Market in USA'

alas - the Venn Diagram, simply on the 'definition', doesn't exist.

[Usui Takumi 1,562]

a shame none of that is because of 'free market' and more on the lines of government intervention driving business away.

Lets say the US government pulled 100% out of the market. No taxes, no regulations, no subsidies etc. The jobs would still go because of lower living standards and lower pay in third world nations. This would continue until an equilibrium is hit leaving everyone in second world status.