Free Markets are a type of market economies that operate on little or no government interference and are driven by supply and demand. An Ideal Free Market is where buyers and sellers can transact freely based on the mutually agreed prices without any taxes, subsidies and regulations.
Every time two people enter a deal, both of them benefit from it. John Stossel coined a phrase, 'Double Thank You Moment' to explain this. Suppose you enter a book store and buy a book, you say thank you. So does the seller. Indeed in any transaction that happens across the world, both benefit or, they wouldn't have entered the transaction. This is how societies grow and prosper. We witnessed a drastic progress during the 18th century when Free Markets started becoming common. And since both the parties are benefiting from the transaction, anyone that comes in the way of a free trade is sinning.
Why are Free Markets better?
Human beings can make money only by increasing the value in the lives of others. So, you can only enrich yourself by enriching others. This is exactly what business is. The more value you create for others, the more value you create for yourself. Thus it is nonsensical to speak of a system where the rich get richer and the poor get poorer. In a free market, that's not possible. The rich can only get richer if the poor also get richer.
Money Trickles up, not down
In a free market, money trickles up, not down. In a business, it is the suppliers and the workers who get paid first, and the consumers who get served and only then, right at the end, do the owners make any money. They are at the end of the chain.
As a whole, Free Markets will provide the greatest benefit to workers, employers and consumers. The product innovation and price are under control and are mutually beneficial.
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