Our free markets are hardly free. Pick any sector and play an easy and educational "find-the-oligopoly" game.
Hint: grow beyond the free markets vs the soviets debate. It shows a rigidity and simplicity of thinking that makes any discussion pointless
Truly free markets have a role to play in a future sustainable abundance scenario. But the current actors parroting "free markets" will definitely not take us there.
Government / regulatory capture is a really bad thing. Businesses that can use the government to shut down competitors is bad. None of that is free market. Companies that are indistinguishable from government are bad. Tax payer Subsidies to pick winners and losers are bad.
None of those are free market.
People often argue against free market by pointing at things that are the opposite of free market.
Read Basic economics by Thomas Sowell. It’s gives a fantastic understanding of supply and demand, what wealth is, how it’s created, etc. Why some places prospers, and some don’t.
This is what crash of 2000 was like for me. Multiple calls a day from recruiters.
Sometime around June or so, the calls Stopped. Just stopped. Six months later I was working at RadioShack.
Along with a number of engineers with 10-20 years experience.
I was an idiot and held out for too long. I’ve been out of work for a very long time, much longer than six months. I never experienced a market like this, even when I was trying to enter the market as a teenager with no real experience it took me three months. Now I have six years of experience apparently worth nothing. I should have taken a on site role a long time ago, but I was trying to avoid moving. I figured my luck would turn around for the better at some point. Idiotic optimism.
Now my lease is up and I’m fucked. My savings have been beaten from month and months of attrition and emergency expenses, including somehow owing money on my taxes this year. The rental market is so bad where I am, with people asking more money for fucking rooms than some of the apartments out here, I assume because most of the apartments have 6+ month waiting lists.
The grid is going to explode. Let's start with California. Because they're a large economy, a large population centre and a famously leading on environmental issues, they tend to run into scaling and environmental problems first.
Do you remember news about the California grid straining under the heat wave in 2022? The governor sent text messages to every Californian asking them to minimise their power usage? Power consumption across the state* reached 52GW.
Every April, by the rules of the Federal Energy Regulatory Commission, each state receives submissions of new projects that people want to build and connect to the grid. Each of these is called a "Cluster". In April 2021, cluster 14 included a proposed 110GW of new power generation. This was so many submissions that the state couldn't even finish their legally mandated analysis of all of the proposed projects in time for the new submissions for April 2022, so they pushed Cluster 15 back to 2023 (approved by FERC). It's past April 2023 and Cluster 15 projects proposed 354GW worth of power. If we take that CA can produce 50GW now, and add clusters 14 and 15, that's a little over 10× our current maximum power generation. You could argue that maybe some of these projects won't get built, that always happens in every cluster, but the number of withdrawn applications is a smaller percentage than usual.
Estimates are that EVs will require us to double our current power generation.
* technically across the California Independent State Operator, https://caiso.com , which is about 80% of California and also includes a tiny bit of Nevada for geographical reasons.
There's reason to think otherwise: Natural Gas is being replaced and is due to see price increases. It will likely be replaced by electricity (namely Heat-Pump HVAC systems, and induction cook tops).
In some states some developments aren't even hooked to the gas network, and the homes standards are such that electrification is the default.
You have to measure electricity demand over years, not months, because seasonal changes and or weather can really corrupt your data.
Of course they also told me how upset they were to hire a white man, something I wish they had mentioned Before hiring. so that kind of set the tone.