Can someone explain to me about free-market economics? What is the difference in our system today?

Our system caters to Big business, as I understand it free-market gives consumers the power?

Free market is just that, free and fair across the board. What we have is a controlled capitalistic system that relies on subsidies and tax breaks. Just look at the oil business, here in the USA the taxpayers subsidize the oil companies with $275 billion per year to give them the incentive to drill and also give them the oil out of federal lease's in part of the Gulf just to get them to drill, all the while Exxon makes over $1 billion per day. There are many such subsidies in all sectors of the economy and I believe a lot of them to be anti small business, lets take for instance a small farmer wants to get started in the business, well he has other farms already established and recieveing subsudies, he can not get subsidies yet because his business is not big enough and turning enough cash flow so he is at a disadvantage all the way, hey its hard enough to get a business started and going and I believe the field should be level so that new business's can get started and bring more competition to the economy.
In a free market system, the government does not do anything, there are no limits or regulations set by the government, so it may be more fair towards some business, but the prices may be higher, and the quality of the products may differ.
Free market economics means people are allowed to trade goods & services among themselves with an acceptable medium of exchange, un-hindered by government rules & regulations.
Most of the largest cities in the world today started their expansion around a centrally located 'free market'.

For thousands of years Gold & Silver, or currency 100% backed by Gold/Silver was the accepted medium of exchange.

Here is a recent article you may be interested in, I hope the link works:

Today we have a tightly 'controlled world' market system because the IMF governed central banks regulated the 'Value' of all the currencies in the world. Causing wage in-equities worldwide, another reason why some Mexicans leave their home country for a chance at a higher paying job in the USA.

Ron Paul understands this economic stuff better than anyone, imho. That's why LilDebunker, I'm on his side.
A free market describes a theoretical, idealised, or actual market where the price of an item is arranged by the mutual non-coerced consent of sellers and buyers, with the supply and demand of that item not being regulated by a government (see supply and demand);

The notion of a free market is closely associated with laissez-faire economic philosophy, which advocates approximating this condition in the real world by mostly confining government intervention in economic matters to regulating against force and fraud among market participants.

This is the typical market that libertarians yearn for as it excludes government interference and allows maximum choice for the people. This choice - gives consumers the "power" you refer to over the manufacturers as its their demand in which the manufacturers must supply.

The opposite of a free market economy is a controlled market, where government sets or regulates price directly or through regulating supply and/or demand. Since we dont have the free market economy that everyone thinks we have - take a guess at what we do have in our system today.

Hope this helps clarify things a bit for you
Our system is a relatively free market. Oddly enough, many people believe that lifting regulations would cause businesses to run roughshod over consumers, but that isn't the case. It is precisely government interference that stifles competition, which is why so many businesses hire lobbyists.

The answers post by the user, for information only, does not guarantee the right.

More Questions and Answers:
  • What do you think about generic products...?
  • How many US pennies currently in circulation?
  • Rate of birth and the world.. what is more...any statics?
  • What exactly is the "World Bank"?
  • I have 2 prepare a project on consumer awareness in india. So will u please help me out?
  • Does Anyone Care That Because of Deadbeat Dad Law Millions Are Unemployed?
  • Why do you think third world countries are poor?
  • Questions about demand and supply? please help...?
  • Can you think of any real-world examples of monopsonies? What are the disadvantages of monopsonies?