Capitalism and individual freedom are two concepts that mirror one another to create an influence on the way that economies function. Milton Friedman and McNally Robinson provided perspectives on those two concepts and how they affect one another in the society. The primary focus is on how the government can intervene in a free market without impacting the freedoms of the individuals in that region (Friedman 15).
Capitalism refers to an economic system that allows the participants to control the investments and means of production at individual level (Beckert 324). However, that does not eliminate the participation of the government in introducing the pertinent policies in the market. The capitalist market only moves the authority into the role of enforcing the laws that the individuals establish (Friedman 15).
A capitalist market develops on the front that the individuals have the freedom to criticize the system in any manner (Friedman 16). However, the individuals need resources to fund those causes of radical change in the society. Friedman argues that the few individuals that have resources can offer them to the activists for use to facilitate the campaigns. That also reflects the nature of the market that Friedman suggests needs the voluntary participation of the capitalists to avail the goods and services to the other people. Therefore, the government stands as a referee to implement the laws that it develops along with the individuals. McNally argues that capitalism violates the freedom of others for the benefit of certain individuals. The argument is that capitalists exploit the little resources available and use them to compete with one another at the expense of peasants (McNally 114).
The arguments of Friedman and McNally reflect the opposing sides that capitalism presents to the economy. The common feature in both ends is that there are a few individuals that control the resources in a capitalist economy. Those people have the liberty to provide the products and services to the market or not. That is the aspect of choice that exists in the individuals as the consumers also have the freedom of purchasing or not. Therefore, the freedom that exists in a free market is that the government does not control how every individual participates without the consideration of the rights of that person.
Works Cited
Beckert, Jens. "Capitalism as a System of Expectations Toward a Sociological Microfoundation of Political Economy." Politics & Society 41.3 (2013): 323-350. Print.
Friedman, Milton. Capitalism and freedom. University of Chicago press, 2009. Print.
McNally, David. Global Slump: The Economics and Politics of Crisis and Resistance. Purgitsville: PM Press, 2011. Print.
