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The Tom Woods Show

Ep. 1339 The Wrong Way to Argue for the Free Market

The Tom Woods Show

Tom Woods

Politics, Economics, Libertarian, Government, News

4.83.3K Ratings

🗓️ 11 February 2019

⏱️ 35 minutes

🧾️ Download transcript

Summary

Friends and foes of the market alike refer to capitalism as a system of "competition." Is that really its characteristic feature, and is that what distinguishes it from other systems? This is actually a misunderstanding, and one that probably turns plenty of people off to the market. What's the right way to think about and explain it? That's what Antony Sammeroff and I discuss in this episode.

Show notes for Ep. 1339

Transcript

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0:00.0

The Tom Woods Show, episode 1339.

0:03.4

Prepare to set fire to the index card of allowable opinion.

0:08.0

Your daily dose of Liberty Education starts here, the Tom Woods Show.

0:14.2

Folks, if you enjoy the Tom Woods show, it's time to go to the next level.

0:18.1

And next level, Tom Woods, is Liberty Classroom.com. This is where my friends and I

0:23.4

teach all the stuff you did not get in your conventional education, history, economics, and more,

0:30.0

the way it ought to be taught with all the content they left out or distorted. Check it out at

0:35.4

Liberty Classroom.com. Hi, everybody. Tom Woods here. Anthony Sam out at libertyclassroom.com.

0:43.2

Hi, everybody. Tom Woods here. Anthony Samaroff is back with us again. Anthony is co-host of the Scottish Liberty podcast, and he is the author of Universal Basic Income, Four and Against. We

0:49.8

talked to him about that on episode 1243. He's been on a couple of times. We talked to him on, I guess,

0:57.1

let's see, four other occasions. And today we're going to be talking about an article he just

1:01.7

wrote about what the market economy is really all about. Because most people, even its own

1:08.0

defenders, say that its characteristic feature is competition. It's a

1:12.4

competitive economy, and that that's what makes it a free market economy. And Anthony says this is not

1:18.0

the right way to think about it. And there are problems that come from thinking about it that way.

1:23.5

And you basically create needless antagonism toward it by explaining it that way.

1:30.8

And what's more, that's not the fundamental feature of a market economy.

1:35.5

So we're going to talk about precisely what that is with Anthony Samaroff.

1:36.4

Anthony, welcome back.

1:38.7

Thank you so much for having me on again.

1:40.1

Tom, delighted to be here.

1:47.6

The easy thing to do would be to jump right into this article, but I've got something of great importance to share with the listening audience.

...

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