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Define "free market system".

All you need really is a game of chance in which the more you have to play with the more profitable bets you have access to. And I think that's a feature of any fair game of chance because it has more to do with things like gambler's ruin than it has to do with the specifics of the game being played.

In probability theory, the term sometimes refers to the fact that a gambler will almost certainly go broke in the long run against an opponent with much more money, even if the opponent's advantage on each turn is small or zero.


A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Thu Oct 16th, 2008 at 09:48:41 AM EST
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