Economics is no a hard science like physics is. And even physics is not set in stone - it evolves, just look up the history of physics over last couple centuries.
The economical theories are about people, are made by the people and influenced by the political interests. The free market theories were created at the time when slavery was still existing in civilized countries, when child labor was wide spread, when the the leading Western countries waged war on China in the name of free drug trade and when Ireland was experiencing the famine.
Traditional Christian doctrine on economics was focused on the interest of all human beings whether they be slaves, serfs, hirelings, merchants, entrepreneurs, knights or kings. And it was worked out with fear of God. That is why after thousand of years of Christian culture the Europe (with hers outposts) rose from barbarism to the high civilization.
Free market theory is built from the one perspective - of the owner and his profit. All else is subjugated as tools and material. Free marketeers are parasites who feed on the moral/spiritual capital accumulated over several centuries.
Yeah, unlike Communism where all else is subjugated as tools and material. LOL!
I would disagree with that. There are two components in a market--buyers and sellers. In a true free market, the decisions of each determine where resources are allocated, where prices are established, etc.
I would argue that the true parasitical elements come into play with such things such as price floors ( read: subsidies ) and price caps ( such as the recent arguments on 'price gouging' in the wake of Katrina ).
In the US, for instance, certain agricultural products have an artificially established price floor--think 'government cheese'. While there may be well-meaning sentiments behind a price floor, they tend to interfere with the market, and resources that might have been allocated to more efficient endeavors are now re-directed because of pay-offs from a government entity. It might gain a politician votes, but it does ripple through the market, the effects can be debated.