How does the free market environment encourage the economic and socioeconomic goals sought by society?

[alisha09088]

[Gentlemensquirrel655]

The free market model allows the formation of wealth as the economy prospers. Unlike Communism and to some extent, Socialism, free markets do not artificialy concentrate that wealth into the few, but allow any entrepreneurially minded person to generate their own wealth.

Combine this with my belief that people are basically good (The Noble Savage theory) and you now have many people with relatively more wealth than those in other forms of economy that are free to give to the charities of their choice, even start their own.

[ABC]

Free markets economy is an addendum to the laws of nature. Water flows from high to low till equilized. There is no good or bad about it - it just is. The good is - lower parts can get water, the bad part is that water may cause attrition or floods along the way, or simply be wasted in the lower areas. But movement of resources from resource rich to rosurce poor countries/areas follows the same principle.

Survival of the fittest is another way of looking at it. In the resourse hungry countries, people will do anything to survive, including accepting low paid jobs. In the resource rich countries, people are at a higher level of Maslow's triangle, are more complacent and demanding of higher standards of living. This creates a cycle of abundance and deprivation in various areas of the world - thus a boom is always followed by a boom and vice versa.

The overall socio-economic goals of a society include equality for all. Free markets are one way of redistributing wealth and adhering to the supply and demand principles. Culture of consumerism necessitates maximizing affordability - so production has to be at the lowest price. If the demand of the same job is high elsewhere, then thats where the jobs will go.

Most issues associated with concept of free economy are detrimental to the wellbeing of vulnerable population. Patent issues cause hundreds of thousand deaths/suicides in India and Africa. It amplifies the divide between the rich and the poor. WHO, GATT, JAFAA and NAFTAA are weapons used to coerce governments of small countries. Instead of waging war and occupying countries, the US uses trade economics to control and occupy countries. So Free Trade has really become an intrument of war rather than the instrument of social justice that it was supposed to be.

I guess the free economy is a concept - and just like any other concept it has its good and bad. Often the media portrays only one side of the issue - depending on where you live you get to hear one side of the story.