Free Market and Capitalism
Free-Market Capitalism
Hector Avelino, Doug Mac Donald, and Neal McKinstry PHL/266: Foundations of the Free-market System
University Of Phoenix
Gerald Voltura
September 4, 2006
Abstract
This paper will attempt to provide an overview and details on the free-market capitalism. The information presented will attempt to provide an explanation of free-market capitalism, what challenges lie before the world, and what the future holds for a free-market world. Free-market capitalism is a very strong mantra, with supply and demand being the main force. The market is self-regulating, keeping step and surviving because of little to no governmental or political intervention, exceptions as defense for invocation of rules and regulations to keep “force or fraud” out of the marketplace (Wikipedia, 2006).
Free-Market Capitalism The Industrial Revolution, which began in Britain during the late 1700s, marked the birth of capitalism. Until that point in history, most of the wealth and power in society was restricted to very few people in society. Capitalism ushered in an age where wealth and power began to transfer throughout society. This paper will provide a brief history of capitalism, an overview of the trends in capitalism, and some recommendations for possible solutions to challenges facing capitalism.
Overview and history Free-market capitalism has a very short history when compared to the history of civilization. Free-market capitalism has become the strongest influence in the growth of humankind in this relatively short span, and is where prices on commodity or goods derived by unregulated supply and demand, a direct opposite of the “controlled market” or more commonly known as the command economy (Wikipedia, 2006). In this uncontrolled system called free market, there are very little governmental or political influences except for regulatory actions to keep fraudulent or unethical activities from flourishing or
Hector Avelino, Doug Mac Donald, and Neal McKinstry PHL/266: Foundations of the Free-market System
University Of Phoenix
Gerald Voltura
September 4, 2006
Abstract
This paper will attempt to provide an overview and details on the free-market capitalism. The information presented will attempt to provide an explanation of free-market capitalism, what challenges lie before the world, and what the future holds for a free-market world. Free-market capitalism is a very strong mantra, with supply and demand being the main force. The market is self-regulating, keeping step and surviving because of little to no governmental or political intervention, exceptions as defense for invocation of rules and regulations to keep “force or fraud” out of the marketplace (Wikipedia, 2006).
Free-Market Capitalism The Industrial Revolution, which began in Britain during the late 1700s, marked the birth of capitalism. Until that point in history, most of the wealth and power in society was restricted to very few people in society. Capitalism ushered in an age where wealth and power began to transfer throughout society. This paper will provide a brief history of capitalism, an overview of the trends in capitalism, and some recommendations for possible solutions to challenges facing capitalism.
Overview and history Free-market capitalism has a very short history when compared to the history of civilization. Free-market capitalism has become the strongest influence in the growth of humankind in this relatively short span, and is where prices on commodity or goods derived by unregulated supply and demand, a direct opposite of the “controlled market” or more commonly known as the command economy (Wikipedia, 2006). In this uncontrolled system called free market, there are very little governmental or political influences except for regulatory actions to keep fraudulent or unethical activities from flourishing or