Posted by: A. C. Cockerill | October 25, 2014

Question of the Week – 2014 – Post #50

Question of the Week – 2014 – Post #50

What is free market capitalism?

My two cents, but please share yours:

  • Capitalism = the individual or group of individuals (a company or organization, not government) owns property
  • Free market = choice and competition in the marketplace

When an individual chooses a job from multiple competing employers, that person can then take the money they earn and use it at competing suppliers to buy food, water, shelter, clothing, transportation, and security protection–all resources needed to live.

Because this individual owns these resources (their property), they control their lives as much as any human being can. In other words, the individual is free.

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Responses

  1. Free market capitalism, which is anathema to Democrats and other leftists, is an economic system under which individuals are free to succeed or fail on their own merits and make their own choices without government intervention to tell them what they can and can’t do. It flourished in the United States for awhile in the late 1800’s, but it’s been thoroughly swallowed up by growing government intrusion ever since then.

    Not coincidentally, our economy grew much more on a per capita basis during that period than it ever did before then or ever has since them.

    • Interesting historical timing, David. When a government adds new taxes and regulations, it’s increasing expenses and reducing profits, often driving small businesses out of business. Fewer businesses mean less competition, sometimes leading to monopolies. It’s all connected. Cheers, Ashley


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