Free Trade Market example essay topic

Milton Freedman Throughout the times of man's inhabitancy on this planet, mankind has experimented with innumerable methods of trade and economics. Many believe that human restrictions on trade and a person's desire for objects can create a utopian way of economic life. The following will examine two articles: The Market Didn't Do It and A Good Conversation and the Marketplace. The goal of the following is to determine whether each is true and why based not only on the economic system of the world today, but also upon reason. Some think that all of the bad things in the world are as they are today due to the freedom of economic trade. An example of this is pollution.

Environmental groups believe that because of free trade, pollution is at an all time high and that it is because of this free trade market that all of the pollution is here in the first place. This is true, but it works both ways. Let's say that "Joe Blow" buys his new Ford Excursion with the V 10 Triton engine. Now, in doing this he will have an adverse effect on the environment, yet at the same time he is supporting hundreds of families back in Detroit. Therefore we, "cannot communicate the value they place on the environmental amenities lost as a consequence of producing and consuming those products". In attempt to counter this, governments attempt to step in and deal with all of the environmental mess that Joe Blow is creating with his gas guzzling S.U.V., and it is here where the problems arise, because as the government may be attempting to preserve nature, special interest groups often get involved, and again it is at this intersection that, "restrictions are intended more to protect the special interests than the environment".

This is known as the", 'command-and-control' approach, which appeals to those who believe that the market cause pollution". In another Article in The Freeman, the economy is paralleled, for lack of a better term, to that of a good conversation. As a conversation reveals more about a person, their beliefs, desires, etc., so does the free market economy reveal the characteristics and individuality of a particular region, province, or country. "Not everyone appreciated the free market. Yet there are striking similarities between the marketplace and a good conversation, and, if anything, the benefits from the communication, cooperation, and compromise of the marketplace are even greater than those from a good conversation".

From the start, this article makes similar a good conversation and the free market, in that both benefit from the cooperation and communication. Communication for example needs to be honest. If you are not telling the truth to whomever you are speaking with, then what good is that conversation? It gets you nowhere.

This ideal is directly proportional to that of the free market ideology. How much would a certain company gain (in the long run) if it led the consumer to believe one thing and then produced another? Soon, when word leaked about that corporation's deceit, the choices of the people would reflect how they feel about being lied to. Thus, similarly, in our day-to-day lives we do not take joy in conversing with one who is known to exaggerate and lie about things. Association with those types of people is not good, and neither is an association with that type of company. However, the single most redeeming value of the free market economy is that the companies live and die by their reputation, and their reputation is reflected in their sales and income.

If their sales are low for some reason, then the people do not see it fit to buy from them and thus, eventually, they will be put out of business. The Market Didn't Do It is an extremely well written article, which makes even clearer the fact that governmental involvement is a bad thing. Going back to the subject of pollution, one cannot help but wonder how the government gets their crazy ideas and spend billions upon billions on such worthless programs directed towards special interests instead of the problem. That single "genera" of an issue is the single most corruptive part of the United States government, and it will always be thorn in freedoms side.

A Good Conversation and the Marketplace is also a very well written and thought out article, which deals with the correlation between a conversation between two people and the relationships shared in the world marketplace by conglomerate corporations. The world today still retains the awareness of honor and reputation, both of which cannot be bought or traded, but need to be earned with time, experience, and quality products. As with a special relationship with someone, it takes time. The economy today is ever changing, yet it is virtually unchanged. With the Internet, instant communication, larger and faster methods of transport and the ever-increasing demand for economic goods the world today is as busy as it ever was. This will only show how the free market ideology will succeed and prosper like none other.

With the free market comes the greatest benefit of all: choice. It is all about choice, it is about what we, the consumers want, and it is because of us that we have the Internet, instant communication anywhere on the globe, and next day delivery. Because we have the freedom of choice we have advanced as not only a society but as a race to meet the demands of ourselves.