The Virtues of Free Markets

37 Pages Posted: 26 Apr 2011

See all articles by Mark A. Zupan

Mark A. Zupan

University of Rochester - Simon Graduate School of Business

Multiple version iconThere are 2 versions of this paper

Date Written: April 26, 2011

Abstract

Free markets have many virtues. Arguably, the most recognized is the expansion of individual choices - and thus freedom - through mutually beneficial exchange (see Bauer's definition of economic development in Dorn 2002: 356). This proposition is at the heart of the enduring impact of Adam Smith's Wealth of Nations ([1776] 1937) which aptly spells out the benefits of the Invisible Hand for citizens and societies.

Suggested Citation

Zupan, Mark A., The Virtues of Free Markets (April 26, 2011). Simon School Working Paper No. FR 11-16, Available at SSRN: https://ssrn.com/abstract=1823435 or http://dx.doi.org/10.2139/ssrn.1823435

Mark A. Zupan (Contact Author)

University of Rochester - Simon Graduate School of Business ( email )

Rochester, NY 14627
United States

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