Seven O’clock rolls around and I am slapping my alarm clock for that eight extra minutes. I get up and grab a cup of coffee, throw some clothes on and slam the door shut behind me hoping that I am not late to work for the second time this week. Work starts as usual, slow and unimportant, listening to people complain and waiting for orders to come so I can get my day started. I finally get the word and the day is underway, the only thing missing are the customers. It is often hard for me to picture a day when I am not contributing to the market in some form. According to Merriam-Webster, the market can be generally defined as, “a place where products are bought and sold” (Market). However, Adam Smith would best define the market as a place
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Free exchange is such a system that would ensure individuals were not blocked from exchanges, forced into exchanges, duped into exchanges and driven into exchanges out of desperation. There are exceptions where individuals could be blocked from or forced into exchanges. The first being if it was in the service of liberty itself. This means they can be blocked if it is destroying liberty or causing harm such as the selling of illegal drugs. The problem we face in society today in the relationship between exchanges being made that goes against liberty and prosperity. The perfect market would promote exchanges that would also support liberty and prosperity. The second exception that individuals could be blocked from or forced into exchanges could be on the basis that it is in the service of some other important public good that could otherwise not be promoted. “The system of natural liberty leaves the sovereign only three duties: (I) the defense of the country; (2) the administration of justice, and (3) the maintenance of certain public works” (Smith, 745). An example of this could be the payment of taxes towards schools and roads. One may not think nor have interests to pay for this but in reality it is helping the society prosper as a whole. The payment of taxes or the blocked exchange of illegal drugs are not violating the practices of free exchange, they are making it better. The ability to freely exchange allows for not only the market to prosper but also the self-interests of the
Free exchange is such a system that would ensure individuals were not blocked from exchanges, forced into exchanges, duped into exchanges and driven into exchanges out of desperation. There are exceptions where individuals could be blocked from or forced into exchanges. The first being if it was in the service of liberty itself. This means they can be blocked if it is destroying liberty or causing harm such as the selling of illegal drugs. The problem we face in society today in the relationship between exchanges being made that goes against liberty and prosperity. The perfect market would promote exchanges that would also support liberty and prosperity. The second exception that individuals could be blocked from or forced into exchanges could be on the basis that it is in the service of some other important public good that could otherwise not be promoted. “The system of natural liberty leaves the sovereign only three duties: (I) the defense of the country; (2) the administration of justice, and (3) the maintenance of certain public works” (Smith, 745). An example of this could be the payment of taxes towards schools and roads. One may not think nor have interests to pay for this but in reality it is helping the society prosper as a whole. The payment of taxes or the blocked exchange of illegal drugs are not violating the practices of free exchange, they are making it better. The ability to freely exchange allows for not only the market to prosper but also the self-interests of the