MORAL CASE FOR FREE MARKETS 3
MoralCase for Free Markets
Accordingto Brooks, a free enterprise describes a system of values and laws,which shows respect for private property, limits governmentintervention, encourages competition, develops individualopportunity, and celebrates accomplishment on the ground of merit(Brooks,2012). One of the claims made by Brooks is that the free market hasthe capacity of safeguarding lasting happiness. According to Brook,earned success entails the creation of value in a person’s life andother people’s lives. It is one’s effort and sacrifice that endup making a person happy and satisfied therefore, free marketemerges as the only system, which lets people pursue happinessthrough earning success and this is the appropriate thing to doregardless of whether individuals become rich or not.
Besides,according to Brooks, free market is likely to promote real lifefairness. Free market promotes fairness since it rewards peopleaccording to their merit and hard work (Brooks,2012). People will not be treated fairly in case their hard earnedwealth becomes distributed by the government to other individualsthat did not work for it. Brooks compares this to a school systemthat distributes good students’ grades to poor students. In such acase, it would be unfair to distribute the grades to poor students.This is the same case in free market.
Brooksalso argues that the free market reduces poverty among the mostvulnerable. Free market has enhanced many people’s lives that wereinitially living in poverty (Brooks,2012). In case people desire more prosperity in the entire world,including those that are poor, they can consider adopting the freemarket system. Therefore, according to Brooks, the free market systemis the best system that economies should consider adopting.
Brooks,A. C. (2012). Theroad to freedom: How to win the fight for free enterprise.New York: Basic Books.