Economic Freedom In America

800 Words2 Pages

America has always valued freedom. In its colonial days, the whole reason for discontent with the British rule was their lack of regard for colonists’ rights. In response to England’s treatment of them, especially when it came to “taxation without representation,” the Founding Fathers wrote the Declaration of Independence. The Declaration of Independence called for the protection of man’s rights to “life, liberty, and the pursuit of happiness.” This eventually came to include the right to free enterprise and free and open markets as part of the liberty and pursuit of happiness. Every human being longs for freedom. No one wants to be limited in what they are able to pursue. No one wants someone else to determine everything for them. No one …show more content…

Economic freedom is the freedom to choose what to produce, how to make the product, and how to sell it, while respecting other’s rights to do so. An individual can be free to prosper without intervention by the government and at the same having their right to secure resources, labor, and private property protected. Within this is free enterprise and free and open markets. Under free enterprise, individuals or groups are able to operate and compete with other businesses. Similar to this is free and open markets, where individuals or groups can buy or sell goods and services at fair prices. Rather than being regulated by the government, free and open markets can follow the economic rule of supply and demand. Goods in demand can be made and sold at prices which fit the …show more content…

Without economic freedom, people are unable to improve their living conditions. Without economic freedom, people might as well be slaves under the oppression of their masters. The masters could choose to make goods and services practically impossible to buy, leading to misery among the people. As long as the people at the top get their goods, services, and money, why should they care about the people they step on? Everyone needs the ability to get what they need to live happily and comfortably. Though for some, their situations may make it difficult to gain happiness. Nonetheless, there is the opportunity to do so. Those with the want to improve their living and the will and perseverance to pursue it may one day gain the happiness they deserve. That is something they are only able to gain if there is economic

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