Essay answering the question How free is the free market

The instructions for the project were as follows:

This essay must be within 1500-2000 worlds, and should be not only from viewpoint of Economics, but also from Anthropology or Sociology. Use books below as references, apart from these you can choose books which are appropriate for the essay question.

Required reading

Nelson J & M Ferber 1993 'Beyond Economic Man: feminist theory and economics' Chicago UP. Ch 3: Not a free market: the rethoric of disciplinary authority in economics.

Carrier J (ed) 1997 'Meaning of the Market: The Free Market in Western Culture.' Oxford:Berg / only introduction

Marx, K 'Capital' Penguin Books, Chapter 1 The Commodity

Suggested reading (Please use at least 2books from here)

Polanyi K 1957 'The Great Transformation.' Boston: Beacon press. Chapters 12 & 13: the birth of the liberal creed and the birth of the liberal creed cont.: class interest and social change.

Henwood D 2000 'Wall Street: How It Work s and for Whom.' London: Verso, Chapter 'Renegades'

Dilley R (ed) 1992 'Contesting Markets: Analyses of Ideology, Discourse and Practice.' Edinburgh UP. Introduction

Graeber, D 2001 'Toward an Anthropological Theory of Value'

Gledhill J 1994 'Power and Its Disguises.'

Chomsky N 1996 'Power and Prospects'

Chomsky N 1999 'Profit Over People: Neoliberalism and Global Order.'

About the Solutions
The first few paragraphs of the the final essay are reproduced below. If you wish you can purchase the full essay or hire an expert to complete a similar essay for you.

The simplest answer to the question is that the free market is not very free if we take the opinion of neoliberal economists while it is too free if we look at the competing viewpoints (Carrier, 1997). A reasonable assessment of economic systems becomes difficult since there are no real examples of a completely free economy in the world and no real instances of where an economy is completely controlled by the government (Chomsky, 1996). Therefore, the quest to gain a right answer to the question demands that we look at particular situations i.e. the labour market and the financial market to see whether the market in general is free or not.

The first example which comes to mind is the labour market and western democracies such as the UK and the US pride themselves on being welfare states which regulate how the labour is governed (Chomsky, 1996). However, this governance and control may have political objectives as described by Adams (2002). Unemployment becomes an important question for governments therefore they may try to maintain low unemployment figures with the regulation of the labour market (Sloman, 2004). In essence, what should have been a free market in an economic system is turned into a controlled market.

It could be asked why a system which promotes the idea of a free market as described by Adam Smith and many others who came after him actually seeks to regulate labour at all? The notions concerning the acceptance of a free market and competition between individuals seem to run counter to labour regulations and minimum wage laws (Chomsky, 1999). The answer given to solve this apparent disjoint is that regulations are supposed to protect people from those who may exploit them. For instance, without proper regulations created by the government bodies the labour market could become imperfect as factory owners could be unfair to the labour they have employed (Botero et. al., 2004).

Other Details about the Project/Assignment
Subjects: Economics
Topic: How free is the free market?
Level: College / University
Tags:

free markets, control, economy, democracy

Price: $1.95

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Project Details

Subjects: Economics
Topic: How free is the free market?
Level: College / University
Tags:

free markets, control, economy, democracy

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Essay answering the question How free is the free market

free markets, control, economy, democracy

free markets, control, economy, democracy