|
|
The Efficiency of the Market
What is a capitalist market system? --business property legally in hands of individuals (not government) --individuals are free to start businesses to sell their products or services --consumers are free to buy as they wish --prices, wages, what is produced, property, and income are left to the free market (no interference by government) -role of the government is to prevent violence, theft, fraud, damage to property and to provide for defence of country
|