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Essay / Research Paper Abstract
A 3 page paper discussing some of the characteristics of the free market and how they contribute to sustainable production. Likely the free market characteristic that is singly most conducive to promoting sustainability is creativity and seeking innovation. Consumers are sovereign; supply and demand determines price. Continuous improvement is necessary for increased profitability. The paper uses a Swedish office building, the Nike boycott and commercial fishing as examples. Bibliography lists 4 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSeconFreeMktSus.rtf
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Unformatted sample text from the term paper:
characteristics of the free market system, not the least of which is that consumers make the buying decisions. Those producers that supply what consumers want to buy survive, thrive
and grow; those that do not eventually cease to exist because they cannot exist forever without making enough from operations to pay the expenses of the business.
In a command economy it is the government that determines what producers will make, how they will make it, what they will pay workers and how
much they can charge for their products. Because private enterprise cannot survive in such conditions, the government either owns outright what Marx termed the means of production or buys
the output of all producers. In either case, consumers have little if any choice in what they buy and producers have no choice in what they make or grow.
The government sets prices. Free Market Constrainers Those with socialist bent claim that the government is the only answer, that the free
market cannot and will not operate with integrity. Nothing is further from the truth. One of the characteristics of the free market is that individuals or groups of
individuals can and do own companies and have the freedom to buy and sell (Hunter, 2003). The goal of these individuals is to operate profitably, so they will seek
to minimize costs and operate with increasing internal efficiency so that they can operate more profitably without raising prices. In a free market it is the market itself that
determines relative prices under the law of supply and demand; a free market producer cannot operate more profitably merely through raising prices, because then they would sell less product.
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