Question: A response to the discussion post below: Based on my prior and current knowledge, I support a country that adopts a free market economic system
A response to the discussion post below:
Based on my prior and current knowledge, I support a country that adopts a free market economic system and do so for many reasons. The first reason is because people as individuals have many different skills, abilities and knowledge which they are incentivized to share when they have a benefit to do so. If living in a free market, creating, innovating and becoming an influencer are highly regarded means of becoming successful which is why people would be incentivized to share their skills and knowledge. Not only that but free markets drive competition and for companies to be successfully competitive they must put a focus on their customers. They will have to create the best products possible and couple them with the best service in order to make others want to purchase from them. I think quality of products and services would therefore be a big benefit that would be experienced in a free market society. The means to own property would be easier than with government intervention so individuals in a free market may be more incentivized and apt to acquire property they need to drive innovation but also be more apt to care for it and cultivate it until it flourishes at its upmost capabilities. Lastly, I believe that prices would be adjusted for supply and demand appropriately. With so much competition in a free market, Company A will not be able to charge eight times more for a product than Company B because they would not retain customers. Therefore, pricing may become more competitive, in a good way, as well. Overall, there are numerous benefits to a free market, and they all are derived around maximizing capabilities that humans already possess. Rather than restricting us, a free market would help make us the best people we can be.
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