“In a situation where a person is given the opportunity to explore what they are good at, to intermingle between classes, and to contribute as much as anyone else, this leaves little room for discrimination and oppression and gives tons of room for innovation and competition.” -OTFM Team
Here at OTFM we hold in high regard the core principles and virtues that make up a free market ecosystem. The foundational goal of this project is to show our support for said values and to shine a light on them for a world in need of a freer society.
Let’s dive into what exactly we mean by principles and virtues of the free market. We laid it out when we started this up in 2020, going over the necessity of voluntary exchange, innovation, competition and opportunity in order for a free market to thrive. With individual freedom as the cornerstone, these principles serve as the foundation for any successful marketspace.
Voluntary Exchange
One of the best things about the free market is mutual consent that goes into each transaction. No transaction is forced in a free market; everyone gets to decide if they want to participate or not, based on their individual outcome. In this market environment, there is freedom to decide what value is attributed to labor, goods or services based on individual consent and reasoning. – Caleb Hogan, ‘Voluntary Exchange’, ofthefreemarket.com
Innovation
Innovation in the economy is defined as creating a new way of completing something, or creating a new technology to be used in the economy. Major innovations have come from free market economies because these economic platforms have less regulations and hindrances on the ability of individual entrepreneurs to create new products and services. There are countless innovations that our modern way of living can credit to a single entrepreneur with a motive to change the world for the better via their product or system. –Caleb Hogan, ‘Innovation’, ofthefreemarket.com.
Competition
Our opportunity to compete with others is often overlooked and far too often taken for granted. Most everything we have as far as modern technology and luxury is a result of competition.
Competition and innovation go hand in hand- they fuel one another. When a company comes around and produces the next best thing it causes producers to have to come up with new products and innovate to survive in their field. When there are opportunities for innovation to arise, this gives space for new innovators to compete in the market arena. This virtue fuels growth, challenges the status quo and causes people in both the consuming and producing worlds to think differently. –SMH, ‘Competition’, ofthefreemarket.com.
Opportunity
This is what we all seek and what we all need in order to thrive. Individuals, families and societies prosper in systems where opportunities exist without excessive and overreaching boundaries. It is all around us, but the confines of authority play a big role in the lack thereof in some of our neighboring societies. This concept exists where one utilizes the freedoms one has to pursue their journey in life. So it’s only appropriate that we have all the necessary freedoms we possibly can to enjoy. –Caleb Hogan, ‘Opportunity’, ofthefreemarket.com
Individual Freedom
In any sense, economic systems and societies which uphold and value individual freedom of choice, individual property rights, and voluntary free trade are upholding the very roots and foundations of what makes a healthy free market society: you and me. When we start to abandon those liberties in exchange for short term comfort, safety and security, we become a mindless mob whom the greedy upper class can rule freely and we abandon our dignity as a human being. Liberty is the fuel in our hearts which helps us to grow, encourage and help others, it is how we learn and explore all that exists in this realm of life. Life is only found in freedom. As Alexander Hamilton said “The sacred rights of mankind are not to be rummaged for among old parchments or musty records. They are written, as with a sunbeam, in the whole volume of human nature, by the hand of the divinity itself, and can never be erased.” The Farmer Refuted (1775). –OTFM Team ’Free Philosophy’, ofthefreemarket.com.
Blockchain: Epitome of Free Markets
We’ve taken quite a journey with blockchain and cryptocurrencies and it seems to tag a variety of our content. Rightfully so, when you look at just how much this technology represents free market commerce. An active force in moving towards a freer economic environment, Bitcoin and other blockchain technologies have become the epitome of free and decentralized trade.
However, it’s clear that there are a variety of ways to uphold the values of free trade outside of decentralized data exchange. Seizing opportunity. Innovating and competing. Being content and aware in exchanges of goods and services. Learning to take responsibility for your individual freedom. Supporting and defending the freedom for everyone to do these things equally. Promoting ways to bring more opportunity and freedom to all.
These principles apply to all areas of life across the spanse of time. It’s no new thing to pursue the freedom that humanity holds in their heart.
Freedom In The Face of Adversity
Big government is bad– regulation and centralization only causes issues. To name a few: no accountability, sub-par standards, inefficiencies, hindered economic growth, restricted freedoms, limited markets, raised difficulty in building a business… the list goes on.
These are the reasons we have to speak up about the issue of freedom. Tyranny is devilishly insidious in the way it takes form. Governments and individuals are always seeking to rig systems to benefit the powerful few. In the face of constant adversity- liberty always seeks to show its face more and more. It’s necessary that we actively pursue the enhancement of our individual freedom. That’s why ofthefreemarket.com is here! Join us!
