A PYMNTS Company

On Free Markets, Their Benefits and Shortcomings and on How Competition Policy Operates in Such Markets

By  |  February 15, 2016

Posted by Social Science Research Network

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    On Free Markets, Their Benefits and Shortcomings and on How Competition Policy Operates in Such Markets

    Adriaan Ten Kate Sr.

    Abstract:     In this article a description is given of what exactly market participants are free to do in a free market, under what conditions market freedom leads to economic efficiency, why a free-market system cannot be expected to lead to socially acceptable outcomes and how competition policy is supposed to operate in such markets.