Many of the most vigorously debated issues in the world today center upon questions of justice and fairness. A variety of individuals and organizations argue that “equal opportunity,” for example, means “equal kind or condition,” and this in contrast to centuries of great thinkers who maintained just the opposite, that the two are not indeed the same.
Drawing upon Volume 5 of the
Free to Choose
video series, “Created Equal,” your studies and understanding and experience address the above topic as well as the following questions:
What do you think? Is “equal opportunity” the ideal or is it “equal condition”? Or do the two go “hand in in hand”?
REPLY TO BRIDGET AND CORTIA
BRIDGET- Can Free Markets Do It All?
Can free markets do it all? No, free markets cannot do it all, but they can help create a system that does. If the government created a well-regulated market then the free-market system could possibly work. Realistically no, this would not happen most government programs are not running well. The system is based on supply and demand, but what if regulated government action helped create a higher level of sustainability within the marketplace. It creates powerful incentives to innovate and generally ensures people’s earnings reflect the value they deliver to others through work. The disadvantages of a free market are intense competition, poor working conditions, environmental degradation, and economic disparities, but with regulated government actions, I believe the system could succeed.
The economic framework consists of stock market, and it also plays a vital role in it. However, no one can it is the economy. It would be totally wrong to state that. The subprime crisis was not at all good for the stock market, many people lost their savings and home. Though it acts as an eye opener to the banking system and resulted in implementing novel policies to avoid such major impacts. The economy is rising at a very high last from the last decade and due to covid-19 it could have a backlash economist are predicting the crisis due to the spread of covid-19 may have a major impact on the world economy, much bigger than the subprime crisis.