“Government regulation stifles innovation.” – ofthefreemarket.com

Big government stifles competition, and discourages innovation through heavy market regulation. A heavily regulated economy hands control of businesses to a select few. This means a majority of people can not participate in bettering or innovating existing markets. In this market space where mass competition is impeded, those who benefit are the ones in control. The result of this regulated economy is a stagnant market that has little to no advancements. a good Example of this lack of innovation due to over regulation can be seen in Cuba where they kept the markets closed for over 50 years.  

The free market way encourages innovation, and anyone who can improve upon a product can capitalize on their innovation in a competitive market space. This free market platform encourages the masses to better markets with their ideas. This system creates better more in demand products at a more reasonable price for all to enjoy. Free market spaces lead to big wins for consumers, because they get innovative advancements through competition in the market space.

Markets can be full of innovation and competition, or regulation and monopolies. I argue that you can not have both in abundance, and see a very fruitful market space. A market that encourages competition, will always be more prosperous, and have more advancements then one that discourages, and penalizes market participation. When the individual has the power, the masses win. We support opening the markets, and hope you will join the fight to keep markets wide open! Thanks for reading.

Written by Caleb Hogan from ofthefreemarket.com on January 4, 2021