A Free Market’s Development

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The twentieth century ran by a mainly Keynesian system with a modern mix economy, but now its time for a change. A free market would lead to more establishments of new businesses. In addition, a free market would allow individuals to be compensated based on skills, education and experience. Lastly, the free market economic system would lower the unemployment rate. The development of a complete free market system will lead to the growth of the gross domestic product.

The development of a complete free market would strengthen the GDP as the country has a growth in the amount of new businesses established. Entrepreneurs would be more motivated to create a business if there were no restrictions. They could produce what they want, however they choose to produce it (any method), and they can produce the product for whomever they want and whom ever will buy it. Since there is no government intervention, government cannot put a price sealing. In Commanding Heights, Margaret Thatcher was described as a supporter of Von Hayek’s theory. Thatcherism supported the privatization of businesses, and leaving the government with a small control in the country’s economics. Commanding Heights states that Thatcherism was described to celebrate entrepreneurship. With a free market government would not be able to apply tariffs into the imports and exports of the country. With no tariffs, companies and entrepreneurs have a lowest cost of input and thus they can make a larger profit. This would encourage more people to start a business and take a risk. Commanding Heights also discusses Reaganomics. President Reagan’s idea was to cut taxes by a small amount so individuals and businesses have more freedom. His goal was to have people and corporations ...

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6. Storck, Thomas. "Is a free market a good thing." Distributist Review (2011): n.pag. Web. 8 Apr 2014. .

7. "The Faith of Entrepreneurs." (2005): n.pag. Web. 8 Apr 2014. .

8. Smith, George. "Justice Entrepreneurship In a Free Market." n.pag. Web. 8 Apr 2014. .

9. n.pag. Web. 8 Apr 2014. .

10. n. page. Web. 8 Apr. 2014. .

11. Block, Walter. "The Free Market: How the market creates jobs and government destroys them." Ludwig Von Mises Institute. (1988): n. page. Web. 8 Apr. 2014. .

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