Why is the free market so valuable and important? Here is my brief statement of rationale.
The free market is the only mechanism that will bring peace to the world. Ideological beliefs or political systems will not. Free markets around the world comprise millions of individuals entering into voluntary relationships with other individuals and making billions of decisions each day to sell and receive goods and services.
Spontaneous Order
The free market is a spontaneous system of order. And, free markets do not require direction or guidance from a centralized authority. Please reflect on that point for a few minutes. It is key to understanding free markets and how valuable they are.
The rise of crypto-assets, especially Bitcoin, is the latest and most dramatic example of spontaneous order. Crypto-assets are supported by blockchain technology. Each crypto-asset is supported by a unique blockchain that is a decentralized and distributed network. Blockchain technology is the next great change agent for organized societies and requires no centralized authority for planning, executing, and controlling related activities.
True democracy requires a decentralized world. Ponder that statement deeply and process that truth.
Centralized Power
Centralized economic and political power are wrong on almost on all levels of governance. The only exceptions are national defense, border control and immigration policy, and foreign policy, and similar high-level areas of governance. The concept of subsidiarity should govern most of the remaining pieces of government. Public policy problems are best solved at the lowest competent level, such as the state or local level.
Links
Internal: https://whitebeardwisdom.com/socialism-in-a-nutshell/
External: https://theasianantiquarian.com/