Essay about Notions Of Labor Markets, Commodity Markets And Human Nature

1192 Words Dec 1st, 2016 5 Pages
Notions of labor markets, commodity markets, and human nature are comparably different in Marxist and Libertarian societies. After examining the Marxist and Libertarian ideologies discussed in this paper, a reader should understand why the Marxist point of view is preferred in each of the three covered topics Even when presenting counterarguments against Marxist ideas, the Marxist point of view remains the clear choice over Libertarianism.
Before going in-depth with labor and commodity markets and human nature, it is important to first define what Marxism and Libertarianism are. The Libertarian theory is “the idea that government intervention into the market and the lives of individuals ethically ought to be reduced to the bare minimum” (Business Ethics Reader). Basically, this means that it would be a society run with minor government intervention, except for police, fire departments, and homeland security. Libertarians believe that the government is the major problem and would rather take it away. They believe in free-market and that the market will self-regulate itself if there are any issues. The free-market plays a huge role because of the “capacity to impersonally regulate the distribution of goods, services, and people without the need of a centralized, coercive institution” (Libertarianism 3) is a big deal. No government intervention means that groups like the FDA, EPA, product testing, or social security will seize to exist. With this limited intervention and the…

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