We Live in a Free Market – The Lie of Economic Freedom

Introduction

From textbooks to politicians, one mantra is repeated: “The free market ensures prosperity and fairness.” We are told that goods, services, and opportunities flow naturally when supply and demand are left alone.
But the truth? There is no such thing as a free market. Behind the slogan lies a system dominated by monopolies, subsidies, financial manipulation, and government-corporate collusion. What we call a “free market” is in fact an engineered playground for the powerful.

The Myth of Competition

The free market promises healthy competition. In reality:

• A handful of corporations dominate entire sectors—Google, Amazon, Meta in tech; Monsanto in agriculture; Pfizer in pharma.
• Small businesses are crushed under taxes, regulations, and lack of capital.
• Price wars and acquisitions eliminate competitors until only giants remain.
• This is not competition—it is monopoly capitalism dressed as freedom.

Hidden Hands of the State

The myth says governments should stay out of markets. In reality, governments constantly shape them:
Subsidies:

• Trillions in subsidies for oil, agriculture, and corporations.
• Bailouts: Banks and industries rescued with public money (2008 crisis, COVID-19 bailouts).
• Regulations: Rules often favor large corporations who can lobby, not small entrepreneurs.
• Wars and Sanctions: Military power used to open or close markets globally.
• The “invisible hand” of the market is actually the very visible hand of state power.

India’s Case – Colonial Markets to Corporate Markets

Under British rule, India was forced into a “free market” for British goods while Indian industries were destroyed.

Post-independence, liberalization in the 1990s opened doors to foreign corporations but crushed local artisans, weavers, and farmers.

Today, farmers’ protests show how “market freedom” often means freedom for corporations, not cultivators.

Global Example – Free Market Illusions

• United States: The richest nation, yet deeply protectionist. Tariffs, subsidies, and trade wars protect its industries.
• Africa: Free market globalization opened borders but left nations in debt traps, resource plundered by Western corporations.
• Asia: Sweatshops supply the world cheap goods while workers earn slave wages—all in the name of free trade.

Financial Manipulation – The Market’s Dark Heart

Markets are supposedly ruled by supply and demand. In truth, they are manipulated by:

• Central Banks:Controlling interest rates and currencies.
• Stock Market Speculation: Billionaires move trillions with a tweet.
• Commodity Cartels: Oil, wheat, and gold prices fixed by a few players.
• Debt Economics: IMF and World Bank dictate poor nations’ economies in the name of “market reforms.”
• What is free here? Only the freedom of elites to profit.

Who Really Benefits?

• Corporations: Monopolize profits, crush competition.
• Governments: Collect taxes, enforce policies that suit the elite.
• Financial Elites: Speculate, manipulate, and control capital flows.

The common man? He faces inflation, job insecurity, debt, and exploitation—all while being told he lives in a “free market.”

Why the Lie Persists

• Propaganda: Media and textbooks glorify free markets as “freedom.”
• Illusion of Choice: Hundreds of brands, but most owned by the same few corporations.
• Colonial Legacy: Former colonies still tied to Western markets under WTO rules.
• Economic Dogma: Universities teach theories that ignore real power structures.
• Towards Real Economic Freedom, Self-Reliance (Swadeshi): Strengthening local industries and farmers.
• Decentralized Economies: Cooperatives and community-owned enterprises.
• Fair Trade, Not Free Trade: Justice-based markets instead of exploitation.
• Breaking Monopolies: Strong laws to protect small businesses.
• Ethical Economics: Dharma-driven wealth creation that values people above profit.

Conclusion

The claim that “we live in a free market” is one of the greatest economic lies. Markets are neither free nor fair—they are manipulated by those in power.
True freedom will come not from serving corporations but from building economies rooted in justice, community, and dharma. Until then, the free market remains an illusion—an empire of profit disguised as liberty.

“A Study by Green Guru Dinesh Rawat, Environmentalist, Researcher & Author”
Websites: www.gloriesofindia.info | www.dineshrawat.live | www.greenmall.in | www.prakritibandhu.org
YouTube: @Glories-of-India