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+--- Thread: What are the social goals of a market economic system? (/thread-8349.html)
What are the social goals of a market economic system? - anthony d - 10-13-2012 09:21 AM
- Hello G - 10-13-2012 09:29 AM
A market economic system does not have any explicit social goals. the entire system is oriented around the satisfaction of individual wants and needs. The idea is that the sum of each individual's maximized utility equals the greatest societal utility. There is little more to the idea of any kind of "social goal" to market economics than that. It should be duly noted that the greatest social utility is not always achieved by maximizing individual utility, due to externalities and other forces that are not captured in conventional markets.