Question

Course: REL 228 at DePaul University

While using readings from class, discuss at least three author's arguments regarding what should be subject to free-market forces and what required government intervention. Restated, is society best served when all products (e.g. drugs, guns, privacy) or social reforms (e.g. equality in the workplace, discrimination) are subject to the market? Or, do we justifiably keep some products or reforms from the decisions of the market? Please provide an author's justification for their argument and not just their solution. Part of this will include a description of the author's position on how freely the market operates.

Answer 1

When we think about free market operation then we should keep in mind that such approaches may degrade the quality of products available in market. Authorities keep their main focus on earning more and more profit only.

Only profitable products are favored in markets which eliminate out qualitative aspect of market. In such cases a customer can only compromise. An aspect of inequality also arises. This causes big differences in financial conditions of people concerned.

It generates various situations which may lead to situations of unemployment. There are also some advantages of such market operations. It basically provides freedom to concerned companies and they can perform various innovative tasks.

Interruption from various agencies also becomes less with significant margins. Decrease in product ranges remains the main concern of market. These conditions require proper regulation and a control mechanism so that flow of products and services can be monitored with an ease.

Those products should be avoided which can spread anarchy in society. Ill habit promoting products like sensitive drugs should not be easily available. A proper mechanism needs to be developed so that effective remedial actions can be taken in the hour of need.