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Economic freedom cannot be fully instated as long as interdependence
exists. The reasoning for this is that interdependence directly effects
economic freedom. The basic idea in these two terms is options.
Economic freedom means having unlimited and unrestricted options, while
interdependence equals limited options. It is impossible for these two
ideas to completely coexist to the entirety of their definitions. The
government is forever creating and amending rules, regulations, and
laws, which constitutes in limiting economic choices and options.
Economic freedom is the aspect of choice. It is a concept that allows
each individual to fully choose exactly how they use their money while
having unlimited options when making economic decisions, with the
advantage of unbounded possibilities. If there were unlimited options,
it would mean that anything that is desired should be able to become
reality. With the absence of restrictions, having unlimited options
allows individuals to act independently with their decisions.
Interdependence, relating to the consumer, is practically the opposite
of economic freedom. Interdependence means limited options and added
restrictions. With interdependence, the choices the consumer makes and
the options he has are dependent on the decisions made by others. They
could be other consumers, entrepreneurs, or the government. Laws,
taxes, and the role of Alan Greenspan are also part of this idea.
Interdependence means that all the consumer's economic decisions are out
of his control because they depend on the decisions of others. Based on
this definition, interdependence and economic freedom are opposing
The concepts are similar in that they are both economic terms that
entail a system of making decisions based on the consumer. Both also
deal with the concept of options. However, that is also exactly how
they are different. It is like two sides of a coin, one is for options,
and one is against them. Economic freedom is all about unlimited
options; therefore, it could not possibly coexist with a governing that
relies on limiting options. Achieving complete economic freedom depends
on interdependence and what limits are being set. It is possible that
both concepts could coexist in a watered down state, like a compromise.
There may be a variety of choices in one area for the consumer, but not
in another area. It is also possible that complete economic freedom
does not exist. In the American economy, the government is the main
source of interdependence, but without the government, America's economy
would be shattered.
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"Economic Freedom Vs. Interdependence." 123HelpMe.com. 16 Nov 2019
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freedom cannot necessarily guarantee that and consumers will always
crave options and the right to choose.
Therefore, the relationship between these ideas is opposing systems
that cannot coexist in their true forms, but find a way to do so by
compromising on certain aspects. These concepts deal with the
consumers' options and their right to have options. Options provide for
a higher standard of living, but can sometimes complicate the
decision-making process. However, limiting consumers' options may have
opposite effects. It's all about the consumer and the consumer wants
options, but sometimes that's just not possible.