Question

Compare and contrast a system of natural liberty versus economic initiative.

Answer 1

Natural liberty is the freedom in which human beings as well as animals posses . It is referred to a state in which human beings have the freedom to act accrding to their wish .It is not controlled by laws or social structures.Economic initiative favors involvement on behalf of the government in the market in the interest of the public.The government involvement in the market economy or involment by any international institution with an effort to have an impact on the economy in addition to the regulations of fraud , enforcing contracts, providing public goods etc. Thus economic initiative is intervention by the government in the market solely in the interest of the public.Natural liberty on the other hand is removing government restraint so that free people can take action to manage their property and live life in their own preference as long as it does not harm any other person.This is the difference.

The natural liberty according to Adam Smith emphasied on freedom of initiative in an attempt to find economic opportunities that would bring the common people out from the clutches of poverty.So natural liberty is for the common people in general and economic initiative ie intervention by the government is also in public interest.This is the similarity.