Free Market

Businesses under a free market are not restrained by government influence, interference, regulation and/or financial assistance; instead, they are governed by the laws of supply and demand. This solely means that under this market, there exists a very high probability of competition for customers and markets. These competitions would of course allow consumers a variety of choices in a variety of prices; which is really great. Competitions also enable producers to improve product quality and mark-down their prices, which is also beneficial to the customers.

Free market is advocating freedom and this freedom gives power to the consumers to pull the plug and decide for progress. Thus, the free market is a grand idea. However, I strongly believe that no market is perfect. Nothing and nobody can please everybody. Free market has many flaws that are worth taking into consideration. They are as follows:

Free market generates higher average incomes, true, but these incomes are asymmetrically distributed in the market, making the market akin to monopoly. One distinct example of this is the entrepreneurial climb of Walmart and McDonald's to the top of the ladder; the former dictates specifications, prices and mode of payments to suppliers while the latter demands the exact size and quality of potatoes from the traders, take it or leave it.

Though free market encourages global expansions, it always favor the more powerful nations, e.g., the United States

Free market is becoming the "highest good" or the ultimate end of everything instead of spirituality and morality

Sometimes, free market tends to limit choices especially when it produces only goods and services that are seem to be marketable to the majority and sometimes, the market is not really inventive, others just produce under someone else's idea and then apply their own definitions of standards to it and mass produce them.

Free markets are always triangular in nature, i.e., it consists of at least one consumer and two competing producers where one must always lose.

But despite all the above-mentioned flaws, I see no point of going against the Free Market idea since I believe that all its disadvantages can be weighed out by all its advantages. I also consider the fact that there's a great distinction between refusing to help oneself and having no capability to help oneself. In a free market, if one really wants to improve and help himself, he can and he will. The Free Market will always be a grand idea as long as people remain essentially altruistic; which is rather difficult to achieve since it is philosophically near the moral and spiritual way of life.