Free markets do not equal free people - especially when those markets are controlled and manipulated.
That is what happened in 2008 when the global economy was on the verge of collapsing.
Socialism like capitalism is merely an economic approach to the allocation of natural resources. In addition to raw materials labor is considered "capital" as well as "machinery".
Socialism is a bottom up approach to managing capital and humans or laborers are given more freedom to make decisions that effect them as individuals.
Capitalism is a top down economic approach with most of the power and money embedded at the top of the pyramid and vested in the hands of a relatively small segment of the worlds population.
Conventional wisdom in America says capitalism is good and socialism is bad. Other nations who have embraced both capitalism and socialism have sought to reconcile the fact that capital markets are not concerned with individuals - especially if they have little value or negative value.
Therefore any effort on the part of a representative government to assist low value humans who are negative or non-contributors is a form of socialism and is despised by the capitalists at the top of the pyramid.
Capitalism rewards those who are wealthy and powerful - even when an individual is incompetent or dishonest. Those at the top of the capitalism pyramid often reward themselves unfairly and maintain their power using money.
Not surprisingly government is a pyramid as well and over the past 50 years the two pyramids have slowly overlapped and are on track to become one pyramid with the corporate model usurping the government model.
Corporations must convince voters to support them and not their government. Thus the shrink government campaign which corporations have invested several trillion dollars in over the decades.
Free markets or free people? The concept of free markets is interesting - since in theory there exists the capability to eliminate demand.
Free markets require inequality in supply and demand with an emphasis placed on demand which is easier and less costly to manage than supply.
The only and sole component of capital on earth - is the planet itself and perhaps other near by celestial bodies like moons and planets that we can develop.
The struggle for food, clean water and shelter supersedes by a wide margin the struggle for more wealth on the planet.
On one hand we have a carrot that will not be obtained by 98% of the planets population perhaps less and on the other we have death from famine, disease and social strife.
When humans voluntarily join together and work towards common goals which are mutually beneficial the result is called socialism by capitalists.
Capitalists use money to offset the disparity in numbers of humans living within the framework of a government. In a democracy of for and by the people the government should not be influenced disproportionately by some of the people.
That is what happens with capitalism.
Socialism on the other hand more fairly allocates resources and takes into consideration the human being - the individual as a member of the whole. In theory all humans are truly equal when they agree to treat each other equally.
Thus food for example would be inventoried and it would be determined if there was more demand then supply for everyone. With profit taken out of the equation humans would increase labor input including intellectual assets to balance supply and demand rather than competition. Had humanity the ability to design human society from the onset this is the logical way to allocate resources.
Today we are faced with the destruction of life sustaining resources - the waste from the excessive consumption that is required and demanded by capitalism is killing those in need. While standards of living have increased beyond need for a minority of humans. Most humans are living a sub-standard life and often without enough life sustaining resources to survive.
In the wealthiest nations the poor are wealthy by comparison to the poorest humans on earth. Entire nations are impoverished and within them individuals fight over limited resources. Yet at the same time untold wealth in the form of raw materials is exported from these same nations. That is the way capitalism works. Free markets? not really - fixed markets entrenched since the industrial revolution.
Individuals as well have become entrenched with excessive wealth passed on from generation to generation.
Progressive taxes are a democratic equalizer in America. Yet the majority of Americans have been convinced by capitalists at the top of the pyramid that their democratically elected government and taxes are taking away rather than preserving their freedom. People like Steve Forbes and Rupert Murdoch who are just two of the hundreds of thousands of capitalist who are purchasing the votes of individuals.
This is a very complex subject that requires much more to be written by me and others. This is a brief essay to lay a foundation for dialogue and stimulate further analysis and ultimately enlightenment.
Let's call it part one.