Sep 17 2016

Liberty and Free Market Capitalism are Connected

Liberty is more than just freedom. It also involves the responsibility and accountability of making free choices. This requires an understanding of consequences and the willingness to accept responsibility for actions that are taken.

The core principle at the foundation of the economic theory known as “capitalism” is free market exchange. This means allowing people to make their own decisions regarding the exchange of goods and capital in order to find an exchange that benefits them. When this is done with diligence and refraining from bad exchanges, it becomes not just possible, but likely for both parties to benefit from an exchange.

What we’re describing here is ethics. Liberty is freedom constrained by ethical considerations. Free market exchange is the ethical exchange of materials in a beneficial manner.

Liberty versus Freedom