----------------- HES POSTING ----------------- I will let the certified historians address the first two of Mircea Pauca's questions and will confine my observations to the idea of "markets" with and without the tendentious adjective "free." The origins of this adjective seem less important than the hopeful normative message its use seems to inspire in particular circles. All markets are simply purposeful constructs to mediate the exchange of ownership of future net value. These constructs take various forms and attributes in particular settings depending on momentary--but assuredly evolving--perceptions of purpose and necessity. Markets are not ends but instruments. For some purposes they can be agreeable instruments. For other purposes they can be most disagreeable. The adjective "free" adds nothing to the conversation except--as above--the fervent hope by some that its frequent use will conduce to the fiction that markets are inherent in the human condition and otherwise meddlesome governments must be kept at bay. The situation is not different from the use of laissez faire as an incantation by those whose current social and economic advantage is reinforced and validated by the existing structure of institutional arrangements. Here use of the French is a suitable guise for what they are too embarrassed to advocate in their native tongue. Dan Bromley ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]