I don't engage in nonsense thinking... But the notion of "free markets" is interesting and misunderstood...
I think ALL MARKETS ARE LOCAL... People live in their local labor market ...labor is not as mobile as capital...
Heres the problem:
In the old daze...the players in any given market were LOCAL PLAYERS...so if one person won and the other lost...the WEALTH STAYED LOCAL...
Its like a local poker game...someone loss is anothers gain...but the money stays local...
Expand that out to the national economy... If one region is losing...and other is gaining employment or wealth for whatever reason...the gains stay in the national economy...
NOW GO GLOBAL...!
If China is sucking money and jobs and wealth out of the US (They are!)...
NET NET ON A GLOBAL BASIS...THE "FREE MARKET" IS WORKING...(in theory)
CHINA'S GAIN AND AMERICA'S LOSS BALANCE OUT...
But from the point of view of Americans...its a disaster...!
Because you see...all economies are LOCAL... be they neighborhoods, towns, cities or nations...! AND RECENTLY THE WORLD...
SO TO THE WORLD AT LARGE...THE ADVANCE OF CHINA AND THE DECLINE OF AMERICA...IS OK...ITS ALL IN THE GAME PLAN OF "FREE MARKETS"...
For multinational corporations ...this is all fine...they can easily transfer funds and plant and equipment GLOBALLY... and seek the cheapest environment...for profits
For Blue Collar Teabaggers in the middle west...? Its a DISASTER... Why? Because all markets are local for middle west workers!
What has happen is exactly Perot's "Giant Sucking Sound"....only it came from China not Mexico..
