Advantages And Disadvantages Of A Free Market Economy

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Ronald Reagan once said “Government 's first duty is to protect the people, not run their lives.” Government is necessary for structure and stability however it needs stricter limits when it comes to interfering with people’s decisions in life. I agree that political, economic, and geographic concerns are meant to be taken care of by the government. When it comes to social issues I do not agree they need to be heavily involved although they have the right to create and pass laws on social issues such as race, religion, and abortion, when certain laws overstep boundaries that should be made clear when separating social and political affairs it is no longer the government’s responsibility. To ensure this I believe we need a representative democracy, less government involvement in social issues, a free market economy, and focus on growing the economy while still being cautious of the environment.
Democracy is the ideal choice for a system of
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A free market economy will be most beneficial for the following reasons; limited government, freedom of choice, and the increased quality of production. The goods and services produced will be the ones most needed, this will depend on the popularity and demand for these products. Overall this will help producers focus on providing certain goods and services thus eliminating ones that are unnecessary and using valuable resources. A free market economy means limited government involvement and the freedom of choice. This allows producers to study the demand and decide what will sell and generate the most income instead of waiting for the government to tell them what to make. Also producers in a free market economy price goods and services reasonably allowing consumers to afford more. This causes competition which helps to ensure that the best goods and services are offered at lower

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