Benefits of the Free Market System
A 5 page paper discussing why a free market is preferable over a controlled one. Adam Smith was certain laissez-faire was the path to follow; John Maynard Keynes supported most of Smith's basic concepts with the addition of social responsibility and the need for some government intervention in the conduct of markets. The benefits of the free market can be seen most clearly in those nations where it was not allowed to exist. The former Eastern bloc nations emerged from communism in poverty, with a standard of living barely above subsistence. Even the last bastion of pure communism, the government of The Peoples Republic of China, has come to realize that it is only economic activity, rather than governmental and philosophical posturing, that can economically support the population. Bibliography lists 4 sources.
Filename: KS-free.doc
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