ECON224- Unit 1 DB
Cheri Bolin
July 19, 2011

Proponents of free market systems argue that free enterprise leads to more efficient production and better response to changing consumer preferences. Others point to the fact that markets are not perfect.

Before beginning my classes, I really hadn’t thought about the economy other than the hardships it has brought my family and I over the past several years. After completing Microeconomics I had a bigger picture of the “small” part of our economic system. The inner workings of our economy and its effects on our country as a whole, somewhat fascinated me. I really do not know much about free markets or free enterprise but what I do know, I do have an opinion on.
I agree yes- free markets are not perfect but with that said, I believe that is why they work so well. Now, there are some good and bad qualities of a free market and enterprise, just like everything else in this country. In my opinion, other markets and enterprises, such as protected or forced markets are incorrect. When individuals put decisions, basically our well-being, in the hands of our government and politicians, they are asking to be told what, when and how to live their lives. Now don’t get me wrong, I do believe that there are some great laws, we have in place but most of them are downright ignorant.
If we had the choice as individuals whether we would prefer a free market and enterprise, I am sure that 75% of the U.S. would be all for it. The ability to buy, sell and trade without the state, government and politicians interruptions would be very successful. We have so many irrelevant taxes, subsidiaries and regulations, that our system forces us to pay or abide by, only to help them in the long run.
Free enterprise has its good and bad points just as free market and everything else in this country. Yes, restrictions can be a good protection