The Free Market

Discuss why the phrase, “The Free Market,” may be an oxymoron. In particular, describe the types of laws, rules and regulations that must be in place and enforced in order for a modern business (assume a manufacturer of consumer products) to thrive in a global environment. “The Free Market” is frequently characterized as a market or free enterprise economy operating in economic activities with minimal government intervention. The power of corporations to manipulate and control …

…have yielded to corporations. This can only be achieved through regulation. Governments are responsible for reclaiming the power that was given to these corporations. More regulations should come in place and enforced in areas where political and economic well being, environmental protection, and cultural identity are often being abused. This does not mean to stifle the free market, but to have a more efficient market mechanism to better achieve the economic and social performance goals.