Sunday, February 16, 2020

Economic Freedom Essay Example | Topics and Well Written Essays - 500 words

Economic Freedom - Essay Example hey please when it comes to issues of trade or should there be a governing body present to ensure that the playing field is leveled allowing every organization an equal chance to conduct business without the fear of being bullied or losing out to the larger companies that may be present in the area. In order to attain a clear view of economic freedom and the potential repercussions, it entails one has to study both sides of the argument to determine which makes a more valid point (Proudhon, 2005). The first group advocates for economic freedom without the limitations that may be set upon them by governing bodies in order to achieve a more liberal market that allows for business transactions without the bother of external influences that may step in from time to time whether the parties involved consent to it or not. The main basis of this argument is that businesses established by individuals or organizations were done so in order to profit from their transactions and the fact that external forces are able to influence these profits should not be allowed as long as the transactions that are carried out are perfectly legal and are not achieved through means such as force or fraud (Lawson, 2006). This side argues that as long as these external forces (mainly policies set by the governments) are able to interfere, true economic freedom cannot be achieved and by extent one is not able to benefit from the sweat of their hard work (Hayek, 2007). This group advocates that those entering into contract agreements are of sound mind and do so for a particular reason thus they should be allowed to function as they please as long as their activities are not hurting other. On the other side, the group that supports the involvement of governments in business activities allows for a more level playing field for everyone involved in the business world. This group argues that should the economic freedom that their opponents are seeking be allowed, the smaller businesses existing

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