free-market economy responsible for unequal distribution of wealth

S

swatiraohnlu

Swati Rao
It's probably true that wealth and poverty are largely self-perpetuating, even self-intensifying, left to their own devices, and that the natural tendency of a free market economy is to accentuate extremes.

Democracy is a tempering force, however. People vote for policies which limit the excesses of fully-fledged free market capitalism. There is no major country that I'm aware of that operates an unrestricted, unregulated free market system. Popular welfare measures exist to some degree almost everywhere.

Do you think free-market economy is responsible for unequal distribution of wealth?
 
First, humans seem to flourish when there is greater freedom i.e where they can implement their free will without oppression or huge differentials in political rights. Therefore, the economic system of capitalism which guarantees a more "free" flow of ideas, abilities and hard work in the market place and that the individual is rewarded by his or her contribution and efforts seem fair and just. Having said that, the definition of human beings also includes a tendency to do nasty things (evil). In any institution, this factor must be acknowledged. Therefore, pure capitalism must be modified to prevent against the dominance of the "dark" side of man.
 
No, in a system of socialism, most people never work because they know it will not make a difference in what they get. A market economy allows us business owners to decide WHAT, HOW, and FOR WHOM to produce. The government should not have absolute control over the economy. Although, of course we should help the poor, wealth is not supposed to be equal. Our economy would actually be much, much worse under socialism. By the way, wealth is not distributed, it's earned
 
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