Why Critics of Free Markets Can’t Resist Free-Market Platforms

While free trade has never been universally popular in America, today its principles are under economic and moral attack from both the left and the right. Yet, the greatest concession that opponents of free trade make is, ironically, their love of the services that the market makes available to them.

The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold.

Consumers love choice, although many hate the idea of a free market. Consumers of all kinds love choice so much that live auction-style, buy-and-sell platforms have become the new free market spaces for many. Whether there is a free market resurgence or a small glimpse of it, platforms such as Whatnot, Property Room, Facebook Marketplace, Sotheby’s, and DealDash, to name a few are bringing free market concepts back into vogue.

The peculiar thing is, the haters of free markets and enemies of capitalism, are some of the very people who participate in the market space and buy-and-sell action platforms. Free markets haters love highly-regulated markets and central planning to control market economies, so why do they love the fruits of unhampered auction-style platforms? Maybe it is “rules for thee, but not for me”—regulate everyone else but let me buy how I want. That seems plausible, but haters of free markets may say the auction-style, buy-and-sell platforms do not produce real needs or wants for people. I would concede this to Mises, who said,