From time to time you will see people accuse free marketeers of "marketolatry". You'll see one here. The implication of that term is to say that we are worse than ideologues: that we worship free markets as our God. Thanks, no, I already have a God; don't need one so imperfect as markets, free or otherwise.
The problem with this accusation is it implies that we wouldn't change our minds in the face of contrary facts. The speaker usually believes that they have irrefutable contrary facts. Since we aren't convinced by their facts, we must be ideologues, or worse, marketolatrators.
Consider that they might be wrong. Certainly they don't.
posted at: 06:10 | path: /economics | permanent link to this entry