There can never be such a thing as a free market, because it is

Hear the piercing words of Jane Smiley: “There can never be such a thing as a free market, because it is human nature to cheat, monopolize, and buy off others so as to corner the market.” These words cut through illusions like a sword. For many dream of a world where commerce flows pure and untainted, where trade is governed only by fairness and freedom. But Smiley reminds us of a harder truth: where men seek profit, their nature inclines them toward advantage, even if that advantage is won by deceit or domination. Thus, the dream of perfect liberty in markets is shattered by the reality of human desire.

At the root of her saying lies the dual face of human nature. On one side, there is creativity, the urge to build, to trade, to connect. On the other side, there is greed, the hunger to control, to possess, to dominate. A free market, left unchecked, soon ceases to be free, for those who rise in power use their strength to bind others. The laws of supply and demand are overlaid with the laws of ambition and fear, and what began as equal competition becomes monopoly and control. Smiley’s words echo like the voice of the ancients: freedom without virtue cannot last.

History is filled with examples. Consider the great oil barons of America in the nineteenth century. At first, the market was open and competitive, many small refiners striving together. But soon men like John D. Rockefeller arose, whose brilliance was matched by ruthless cunning. Through secret deals, price wars, and the buying off of rivals, Standard Oil grew to dominate nearly the entire industry. What was once “free” became bound under the fist of monopoly. Only by the heavy hand of law was this empire broken apart. Thus history teaches: the market cannot remain free if men remain bound by greed.

Another tale may be told of the East India Company, that mighty engine of empire. What began as merchants trading spices became a force that subjugated nations, extracted wealth, and even wielded armies. Its power grew so vast that it governed more like a sovereign than a trader. Here again, the dream of free commerce dissolved into domination. The market, when left to men unchecked, becomes not a field of equal players, but a throne where the strong sit and the weak kneel.

The deeper meaning of Smiley’s words is not despair, but vigilance. She does not say that trade is evil, nor that ambition must be extinguished. Rather, she teaches that we must never deceive ourselves into believing in perfect purity where human nature is concerned. We must guard markets with justice, as shepherds guard the flock. For if there are no boundaries, then power devours freedom, and liberty becomes illusion.

The lesson is clear: do not worship the free market as though it were divine. Recognize that freedom must be preserved by watchfulness, honesty, and restraint. If you are a leader, guard against monopoly; if you are a trader, let fairness be your compass; if you are a citizen, demand accountability from those who profit by your labor. True freedom is not the absence of rules, but the presence of justice.

Practical steps follow: support systems that check corruption, resist those who seek to corner the market, and cultivate virtue within your own dealings. Ask not only, “What profit may I gain?” but also, “What fairness have I upheld?” For in the long run, a society thrives not on the triumph of the cunning few, but on the strength of its shared trust.

Remember always: human nature inclines toward excess, and without vigilance, freedom is consumed by domination. A free market in its purest form is a myth, but a fair market—tempered by justice and guided by wisdom—can endure. Thus, let us seek not the impossible dream of freedom without restraint, but the noble task of balancing ambition with equity, so that trade may serve not only the powerful, but all who labor beneath the sun.