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Haiti Free Market Economy Plan Essay

976 Words4 Pages

Recognizing the vast potential of Haiti and envisioning a marvelous development, I would like to extend my invitation to your partnership in creating a charter city. This development has the potential for much economic profit to your country as well as the Haitian economy. I have envisioned in my mind a prosperous charter city that is built upon the foundation of a free market economy. Throughout history the free market economy model has proved successful to general growth and autonomous operation. The commencement of this project will begin by selecting an area in Haiti that has sufficient potential to grow. We will thoroughly research and study all prospective areas to find the one that provides the best access to natural resources. We will then partner with appropriate organizations and companies that have the necessary means and resources to develop such a city. After this city has grown and proven to be victorious, we will then replicate this idea within other …show more content…

One of the key contributors to the development of capitalist economics is Adam Smith. According to Smith, the secret to wealth is found through free exchange. Therefore, I am confident as this charter city is developed upon these principles it will prosper. A free market economy will motivate the people to work for their own profit therefore creating more wealth. In this economic system, people will be able to pursue their own enlightened self interest through their occupations which will positively affect others around them. As Haitian citizens specialize in their own trades and occupations, costs will be lowered. One great danger is the formation of monopolies. It is crucial that we prevent this market weakness from emerging as it will eliminate competition between companies. It is beneficial when companies and businesses compete because it lowers the marginal opportunity cost which will help

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