Thursday, September 11, 2014

Maddie Binning, Chapter 1, Question #2

The benefits and downfalls of free markets are certainly prevalent issues now and for the future. The bettering of lives for the majority of a population through free markets indicates a definite step in the correct direction. However, as the last paragraph states, the question of government involvement in the market (thus making it less free) could be beneficial to the population due to the fact that humans do not and, in my opinion, cannot always act in their own best self interest. Government involvement in the market could directly affect every citizen, especially in issues such as the current debate over healthcare. Should it be run in a similar way to the post office as the author's relative suggested, that would drastically change the consumer's involvement with pharmaceutical companies and medical services, possibly redirecting funds. This is an issue that could affect daily and general life. If the average citizen now has the option to allocate their money or resources differently due to reasons XYZ, the market and by association the population could greatly benefit, just as the assumptions behind a free market suggest it should.

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