The purpose of the Virie Market is to achieve a free market in its pure form. Without any government control and bureaucracy, the free market is an economic system with bases on supply and demand, among all voluntary exchanges that take place among participants in an economic environment. Its features involve decentralized and spontaneous arrangements wherein the individuals make the decisions instead of any governing parties.
But why would the Virie Market want to achieve such type of market? Let’s take a look at the advantages of the free market to be able to answer this question.
Entrepreneurs don’t have to produce and submit tons of requirements just to be able to adhere to the government’s bureaucracy. It is themselves who study the movements in the supply and demand, current trends and meet the customers’ needs and satisfaction from there. Without the red tape getting in their way, they can reduce costs, innovates their products further as well as their research and development. This also promotes healthy competition among themselves.
Resources are greatly allocated
In the free market, resources are evenly distributed and allocated. In this way, people could exchange whatever they want for whatever they want, using whatever payment instrument they want. If someone wants to send a book from London to the USA, or if someone in the Philippines wants to buy a video camera from China, they can do so, without any limitations and restrictions such as borders, tariffs, permits, licenses or whatever. Proper allocation of resources also avoids overproduction since producers only need to acquire new raw materials for consumers who are willing to pay for multiple products.
Automatic matching of buyers and sellers
In a free market, there will be no retailers to stand in the way of the producers and consumers. There will not be a need for a stockbroker to match people who want to buy or sell properties. There will be no bank to position themselves in between the savers and the borrowers. Free markets do the matching of the buyers and sellers. In this system, the produces don’t even have to know who sells their products. From the side of the consumers, a free market enables them to find the products that they want without having to find who produced those products. This is a great way to lower costs for both the buyers and the sellers, which of course, makes the market even more efficient. Thanks to the internet, as it has enhanced the benefits of this kind of system.
The magic word in a free market is freedom. Free markets allow you to find the work that you want and who you want to work for. It allows you the right to choose the shop that you want to buy from, of whatever you want to buy. If it’s not in the free markets, you don’t have the freedom of choice. Some government agency or organizational dictatorship will match you with the job you probably will not like, find producers to match with retailers, then sellers to buyers. There will be middlemen to do the matching for any transactions, and they charge large amounts of commissions when they do so. A free market eliminates all these. It lets over a hundred million workers the freedom to choose from thousands of jobs available. It lets over a hundred million consumers the right to choose from millions of goods and services available in the market.
The answer to the question
These advantages answer the question of why the Virie Market wants to achieve the pure form of a free market. While this may sound ambitious, the freedom of choice is ours for the taking when it happens.