The nature of human interactions is very complex. There are several ways of achieving or organizing something. Some individuals might suggest that the end goal is the only thing that matters. On the other hand, there are some people, who believe that to win fairly is better than just win. In this essay, I will analyze the free market critique in Moral Criticisms of the Market by Ken Ewert (1989).
I agree with the author that market has no moral influence on its own. Rather, I would suggest that it has the power to show the insight of one’s personality.
Free market principles do not call for injustice, poverty or manipulation. Instead, the neoclassical paradigm stresses that it is important to diminish any limitations or glass ceilings. Also, it suggests that human beings are rational agents, who seek to maximize their utility.
One would be a hypocrite if he said that improving his utility level is indifferent to him. In any country, does not matter the social or economic structure, the majority of people go to work and work hard to be able to afford something that they want. Some factory manager in a socialist country will not trade the well-being of his family for the utility of his workers.
It is why I would go further and suggest that free market is the fairest and just economic structure. Also, I believe it corresponds the most to the Biblical approach to societal relationships. Equality of opportunities lies at the core of this economic framework. The end result will be different for everyone since each individual has a set of distinctive skills and talents. However, there is no predetermined order in society. The least can become the greatest.
In conclusion, I enjoyed analyzing this article. It made me establish my opinion on the most efficient and moral market structure. Also, it challenged my position by offering several opposing views. This aspect benefited my critical thinking abilities.
- Ewert, K. (1989). Moral Criticisms of the Market. Foundation for Economic Education. Retrieved 17 February 2016, from http://fee.org/articles/moral-criticisms-of-the-market/