Fair Market Theory

For a long time, I've thought about what I call "Fair market theory" as an alternative to Free Market Theory. I decided that I wanted to put it down in writing...or at least try, so in the next few days/weeks/who knows how long, I'm maybe going to write about what I think fair market theory could do for the world.

I did a google search for "fair market theory" and didn't find hardly anything at all...but it does look like, perhaps, the economist Paul Krugman has used the term in a way like I'm thinking of it.

Why do I care? I think free market theory--which has taken such a hold on the American and international consciousness--is a flawed theory, and that the flaws are both theoretical and empirical.

Not that I think that anyone will actually read what I have to say, but just in case there's someone out there who finds this blog and is interested in non-politicized reasons that free market theory is flawed.

I want to be clear that "free market theory" is not a form of government. Questioning whether "free market theory" should guide governments--especially a democracy--is not an unreasonable pass time for a person living in a democracy who is interested in the the best preservation of the freedoms of living in a constitutional democracy that protects the civil rights and liberties of its citizens.

Wouldn't it be great to live in a country where the rights guaranteed by the Bill of Rights were also guaranteed by the government?