Discussing why I do not agree with the criticisms that are mentioned in the article “Moral Criticisms of the Market”

In this post I will be discussing why I do not agree with the criticisms that are mentioned in the article “Moral Criticisms of the Market.” Many of my own personal beliefs are used as rebuttals and counterarguments in the article itself.

Discussing why I do not agree with the criticisms that are mentioned in the article Moral Criticisms of the Market

Instructions are: For your reply, respond with a minimum of 150 words. Your reply must include a discussion on whether the author was right in his or her analysis in either agreeing or disagreeing with Ewert’s arguments. This source is below in reference section

In this post I will be discussing why I do not agree with the criticisms that are mentioned in the article “Moral Criticisms of the Market.” Many of my own personal beliefs are used as rebuttals and counterarguments in the article itself.

One of the first critiques mentioned is selfishness. I understand why someone would say that a free market makes individuals selfish. In a capitalist, free market economy, everyone is trying to make money. “Money is the motivation” as some people say this day in age. Therefore a lot of people or businesses will sell a product at its highest price possible to get the most return. Some people call that selfish, others call it smart business practice.

The idea of a free market economy is that supply and demand control (somewhat) the prices of goods and services.

If a large number of the population deems that a good or service is not as valuable as the price, that business will lose customers and subsequently lose money until they drive the price down. Free market economy has selfish tendencies, but it is not strictly selfish. Ken Ewert discusses in his article that in a free market economy, individuals are free to do what they please. If one chooses to act on kindness in relation to their business, they are able to. The market is “free.”

Humans are inherently selfish. Selfishness will exist everywhere regardless of any policies. Ewert brings this idea to light by discussing selfishness in other economic systems such as the ones from the Soviet Union. These systems are meant to be less selfish, but are they? I would argue no.

Reference:
Ewert, K. (1989, March 01). Moral Criticisms of the Market: Ken S. Ewert. Retrieved September 30, 2020, from https://fee.org/articles/moral-criticisms-of-the-market/