The Free Market System
Order Instructions:
This assignment requires you to read “Moral Criticisms of the Market” by Ken S. Ewert Note that in his article, Ewert is defending the free market from “Christian Socialists.” He states their position and then gives a rebuttal. Do you agree with the critique of the market in Ewert’s article? Why or why not? Read carefully and offer cogent reasons.
The reading link:
http://www.fee.org/the_freeman/detail/moral-criticisms-of-the-market
Consider the context of the article; the Berlin Wall fell months after the article was published. The USSR followed shortly thereafter.
SAMPLE ANSWER
The Free Market System
In his article Moral Criticisms of the Market, Ewert (1989) looks at the condemnation of the free market by Christians as morally wanting and criticizes it. I agree with this article on various points.
First, he accepts that most systems accommodate selfishness. It is for this reason that both a socialist and a capitalist will both take a bribe. However, the free market system does not encourage selfishness. Instead, the free market system promotes competition. Competition on the other hand, competition has been shown to promote productivity. It is of course the intention of every system to encourage productivity.
Second, the free market encourages free choice. This way, it does not encourage individuals to market their products selfishly but rather gives them a chance to act as they please. The socialist approach on the other hand gives the will to a central system. This system is to blame for the Berlin wall. The Berlin Wall was intended to divide the socialists in Germany from their capitalist counterparts (Taylor, 2007). It took away the concept of free will from individuals forcefully. This implies that capitalist systems are more likely to promote free will and peaceful co-existence than socialist ones.
Thirdly, the socialist systems are intended to benefit one party while neglecting others. The alternative to the free market is the state-led systems. These systems often permit for the creation of channels that promote the oppression of certain individuals rather than others. This implies that they are more likely to be oppressive compared to capitalist systems.
Finally, the free market does not give any reasonable economic power to the wealthy. The economic power it confers to the wealthy is the ability to negotiate. Since they have money, they are able to offer better terms to those from whom they are buying from. It does not however promote cases of slavery and oppression.
References
Ewert, K. (1989). Moral Criticisms of the Market : The Freeman : Foundation for Economic Education. Fee.org. Retrieved 26 September 2014, from http://www.fee.org/the_freeman/detail/moral-criticisms-of-the-market
Taylor, F. (2007). The Berlin Wall: A Secret History | History Today. Historytoday.com. Retrieved 26 September 2014, from http://www.historytoday.com/frederick-taylor/berlin-wall-secret-history
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