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ECONOMICS - FORMS OF MARKET
A free market is a market where prices are determined by supply and demand, with little or no government control. Free markets contrast with controlled markets in which prices, supply or demand is directly controlled. Various economic theories require specific properties of free markets, for example, a perfect market with perfect information and perfect competition. Regulation which does not affect these specific properties can be in place without disqualifying the market as free under supply and demand.
Although free-markets are commonly associated with capitalism today, free markets have been advocated by socialists and have been included in various proposals for market socialism where market allocation of capital is combined with self management in enterprises, and employee-owned cooperatives or publicly owned enterprises operate in free markets.
In the marketplace, the price of a good or service helps communicate consumer demand to producers and thus directs the allocation of resources toward satisfaction of consumers as well as investors. In a free market, the system of prices is the emergent result of a vast number of voluntary transactions, rather than of political decrees as in a controlled market. The freer the market, the more prices will reflect consumer habits and demands, and the more valuable the information in these prices are to all players in the economy. Through free competition between vendors for the provision of products and services, prices tend to decrease, and quality tends to increase.[citation needed]
Ayn Rand ( /ˈaɪn ˈrænd/; born Alisa Zinov'yevna Rosenbaum, February 2 [O.S. January 20] 1905 – March 6, 1982) was a Russian-American novelist, philosopher, playwright, and screenwriter. She is known for her two best-selling novels The Fountainhead and Atlas Shrugged and for developing a philosophical system she called Objectivism.
Born and educated in Russia, Rand moved to the United States in 1926. She worked as a screenwriter in Hollywood and had a play produced on Broadway in 1935–1936. After two initially unsuccessful early novels, she achieved fame with her 1943 novel The Fountainhead. In 1957, she published her best-known work, the philosophical novel Atlas Shrugged. Afterward she turned to nonfiction to promote her philosophy, publishing her own magazines and releasing several collections of essays until her death in 1982.
Rand advocated reason as the only means of acquiring knowledge and rejected all forms of faith and religion. She supported rational and ethical egoism, and rejected ethical altruism. In politics, she condemned the initiation of force as immoral and opposed all forms of collectivism and statism, instead supporting laissez-faire capitalism, which she believed was the only social system that protected individual rights. She promoted romantic realism in art. She was sharply critical of the philosophers and philosophical traditions known to her besides Aristotle.
Phillip John "Phil" Donahue (born December 21, 1935) is an American media personality, writer, and film producer best known as the creator and host of The Phil Donahue Show. The television program, also known as Donahue, was the first to use a talk show format. The show had a 26-year run on U.S. national TV, preceded by three years of local broadcast in Dayton, Ohio, before ending in 1996.
His shows have often focused on issues that often divide liberals and conservatives in the United States, such as abortion, consumer protection, civil rights and war issues. His most frequent guest was Ralph Nader, for whom Donahue campaigned in 2000. Donahue also hosted a talk show on MSNBC from 2002–2003.
In 1996, Donahue was ranked #42 on TV Guide's 50 Greatest TV Stars of All Time.
Donahue was born into a middle-class, churchgoing, Irish Catholic family in Cleveland, Ohio; his father was a furniture sales clerk and his mother a department store shoe clerk. In 1949, he graduated from of Our Lady Of Angels elementary school in the West Park neighborhood. In 1953, Donahue was a member of the first graduating class of St. Edward High School, an all-boys college prep Catholic private high school run by the Congregation of Holy Cross in suburban Lakewood, Ohio. He graduated from the University of Notre Dame, which is also run by the Congregation of Holy Cross, with a B.B.A in 1957.
The Dalai Lama is a high lama in the Gelug or "Yellow Hat" branch of Tibetan Buddhism. The name is a combination of the Sino-Mongolian word далай (dalai) meaning "Ocean" and the Tibetan word བླ་མ་ bla-ma (with a silent "b") meaning "chief, high priest".
In religious terms, the Dalai Lama is believed by his devotees to be the rebirth of a long line of tulkus who are considered to be manifestations of the bodhisattva of compassion, Avalokiteśvara. Traditionally, the Dalai Lama is thought of as the latest reincarnation of a series of spiritual leaders who have chosen to be reborn in order to enlighten others. The Dalai Lama is often thought to be the leader of the Gelug School, but this position belongs officially to the Ganden Tripa, which is a temporary position appointed by the Dalai Lama who, in practice, exerts much influence. The line of Dalai Lamas began as a lineage of spiritual teachers; the 5th Dalai Lama assumed political authority over Tibet.
For certain periods between the 17th century and 1959, the Dalai Lamas sometimes directed the Tibetan government, which administered portions of Tibet from Lhasa. The 14th Dalai Lama remained the head of state for the Central Tibetan Administration ("Tibetan government in exile") until his retirement on March 14, 2011. He has indicated that the institution of the Dalai Lama may be abolished in the future, and also that the next Dalai Lama may be found outside Tibet and may be female. The Chinese government was very quick to reject this and claimed that only it has the authority to select the next Dalai Lama.
Sheldon Richman is an American political writer and academic, best known for his advocacy of libertarianism, in particular left-libertarianism or market anarchism.
He is the editor of The Freeman, a magazine published by The Foundation for Economic Education, a Senior Fellow at the Future of Freedom Foundation, a Research Fellow at The Independent Institute, a member of the Advisory Panel for the Center for a Stateless Society, and a member of the Liberty and Power group weblog at the History News Network. His own blog is called Free Association.
A graduate of Temple University, Richman was formerly a journalist, and a senior editor at the Cato Institute and the Institute for Humane Studies at George Mason University.
Sheldon Richman has written occasional pieces on foreign policy, population issues, federal disaster assistance, international trade, education, the environment, American history, privacy, computers, and the Middle East. These articles have appeared in, among others, the Washington Post, Wall Street Journal, American Scholar, Chicago Tribune, USA Today, Washington Times, Christian Science Monitor, CounterPunch,Independent Review, Insight, Cato Policy Report, Journal of Economic Development, The World & I, Reason, Washington Report on Middle East Affairs, Middle East Policy, and Liberty. He is a contributor to the Fortune Encyclopedia of Economics.
Your heart's just missed another beat
The ground's still moving neath your feet
Your mouth is dry, your eyes are sore
There is nothing certain anymore
You thought that History was dead,
Well it's just whacked you on the head
It took your money, and you're right
It's coming back to take your pride
Golden days are just a memory
But that's all right cos the market is still free,
The market's free.
Survival of the fittest is a swizz
Law of the jungle is what it is
I hope you still think it's OK
Now it's you who are the prey
Golden days are just a memory
But that's all right cos the market is still free,
The market's free.
Free marketeers were on a roll
Rolling in silver and in gold
But then the market grew too cold
So they held out the begging bowl
Golden days are just a memory
But that's all right cos the market is still free,
The market's free.
You thought that History was dead