The Recovering Investment Banker

What is a market?

Episode Summary

Most of us think we know what a market is, but do we really? Chris Coffman, the recovering investment banker defines a market as a bastion of equality and freedom of choice. Unfortunately, market manipulation fueled by greed gives many people a sour taste of free market capitalism. But that's not the market's fault.

Episode Notes

01:30 - A market is nothing more than an environment in which buyers and sellers can come together to buy whatever they please for whatever price they agree upon.

03:42 - Analogy of the farmer's market

06:37 - We are complex individuals with individual wants, needs and abilities. But the market allows us to make a free decision with another unique individual.

11:22 - An example where the market does not exist: The US Medical System. The healthcare system is terrifying to most Americans because we have no way of knowing what something will cost until after the fact. It deprives us of freedom

14:13 - The stock market SHOULD still be an open free market, but institutions have major advantages over individual investors like us. 

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