Liberal Lie #1 About The Freemarket: Unpredictability

by David L. Goetsch Mack Jones thought he had done everything right.  He went to a good college and majored in a high-demand career field.  Then he went to work for a company that had been in business for more than 70 years. Mack is a good planner.  He likes to plan out his life and then do what is necessary to turn his plans into reality.  His career plan had him remaining with the same company all of his working life and rising steadily up through the corporate ranks.  For ten years, everything had been working just as planned.  That is until today.  Today Mack was given a pink slip.  In spite of his consistently high performance ratings and steady rise up the corporate ladder, he was let go this morning.  For the first time in his working life, something that he never would have predicted has happened.
Mack knew his company had been struggling for the past two years.  The competition his company faced had become intense and global in scope.  Sales had declined steadily over the past 24 months as other companies in the U.S. as well as overseas ate into his company’s heretofore stable and predictable market.  Mack knew his company had erred in taking its customers for granted.  As a result, the company had fallen behind in adopting new technologies and in continually improving the performance of its products, processes, and people.  But Mack was floored by the suddenness of his downfall.  For two years he had been telling himself, “Just wait until I am in charge.  I will turn this company around and get it moving in the right direction again.” Mack never thought he would become a victim of his company’s corporate lethargy.  As he cleaned out his desk, still stunned from the shock of being terminated, Mack thought that maybe his liberal brother-in-law was right after all.  Maybe the free market is too unstable and unpredictable.
Mack Brown’s brother-in-law, a government bureaucrat, has long tried to convince Mack that the free market is an unstable and unpredictable economic system, a charge often made by liberals.  Like most liberals, Mack’s brother-in-law views socialism as a more stable economic system—one that is absent of the constant ups and downs of the free market. Unfortunately, in his present circumstances Mack Jones is susceptible to believing this lie.  Rather than blame his company’s corporate lethargy for his unfortunate circumstances, Mack is ready to believe that it is the economic system—the free market system—that is at fault.
Where Mack’s brother-in-law and other liberals err is in what they attribute the ups and downs of a free market to.  While it is true that in a free market there are always companies that are growing while others are failing, this is not a weakness of the free market.  It is a strength.  The key factor in a true free market is competition.  The failure of Mack’s company occurred not because of the unpredictability of the free market, but because its leaders allowed themselves to become smug and complacent.  Over time Mack’s company became just like the champion boxer who allows himself to become fat and out of condition.  The fact that he is going to take a fall is hardly unpredictable.  In fact, it is a sure bet.

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Liberal Lie #1 About The Freemarket: Unpredictability

Written on Monday, November 25, 2013 by David L. Goetsch

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Mack Jones thought he had done everything right.  He went to a good college and majored in a high-demand career field.  Then he went to work for a company that had been in business for more than 70 years. Mack is a good planner.  He likes to plan out his life and then do what is necessary to turn his plans into reality.  His career plan had him remaining with the same company all of his working life and rising steadily up through the corporate ranks.  For ten years, everything had been working just as planned.  That is until today.  Today Mack was given a pink slip.  In spite of his consistently high performance ratings and steady rise up the corporate ladder, he was let go this morning.  For the first time in his working life, something that he never would have predicted has happened.

Mack knew his company had been struggling for the past two years.  The competition his company faced had become intense and global in scope.  Sales had declined steadily over the past 24 months as other companies in the U.S. as well as overseas ate into his company’s heretofore stable and predictable market.  Mack knew his company had erred in taking its customers for granted.  As a result, the company had fallen behind in adopting new technologies and in continually improving the performance of its products, processes, and people.  But Mack was floored by the suddenness of his downfall.  For two years he had been telling himself, “Just wait until I am in charge.  I will turn this company around and get it moving in the right direction again.” Mack never thought he would become a victim of his company’s corporate lethargy.  As he cleaned out his desk, still stunned from the shock of being terminated, Mack thought that maybe his liberal brother-in-law was right after all.  Maybe the free market is too unstable and unpredictable.
Mack Brown’s brother-in-law, a government bureaucrat, has long tried to convince Mack that the free market is an unstable and unpredictable economic system, a charge often made by liberals.  Like most liberals, Mack’s brother-in-law views socialism as a more stable economic system—one that is absent of the constant ups and downs of the free market. Unfortunately, in his present circumstances Mack Jones is susceptible to believing this lie.  Rather than blame his company’s corporate lethargy for his unfortunate circumstances, Mack is ready to believe that it is the economic system—the free market system—that is at fault.

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