Tuesday, October 1, 2019
Economic Freedom Vs. Interdependence :: essays research papers
Economic freedom cannot be fully instated as long as interdependence exists. The reasoning for this is that interdependence directly effects economic freedom. The basic idea in these two terms is options. Economic freedom means having unlimited and unrestricted options, while interdependence equals limited options. It is impossible for these two ideas to completely coexist to the entirety of their definitions. The government is forever creating and amending rules, regulations, and laws, which constitutes in limiting economic choices and options. Economic freedom is the aspect of choice. It is a concept that allows each individual to fully choose exactly how they use their money while having unlimited options when making economic decisions, with the advantage of unbounded possibilities. If there were unlimited options, it would mean that anything that is desired should be able to become reality. With the absence of restrictions, having unlimited options allows individuals to act independently with their decisions. Interdependence, relating to the consumer, is practically the opposite of economic freedom. Interdependence means limited options and added restrictions. With interdependence, the choices the consumer makes and the options he has are dependent on the decisions made by others. They could be other consumers, entrepreneurs, or the government. Laws, taxes, and the role of Alan Greenspan are also part of this idea. Interdependence means that all the consumer's economic decisions are out of his control because they depend on the decisions of others. Based on this definition, interdependence and economic freedom are opposing concepts. The concepts are similar in that they are both economic terms that entail a system of making decisions based on the consumer. Both also deal with the concept of options. However, that is also exactly how they are different. It is like two sides of a coin, one is for options, and one is against them. Economic freedom is all about unlimited options; therefore, it could not possibly coexist with a governing that relies on limiting options. Achieving complete economic freedom depends on interdependence and what limits are being set. It is possible that both concepts could coexist in a watered down state, like a compromise. There may be a variety of choices in one area for the consumer, but not in another area. It is also possible that complete economic freedom does not exist. In the American economy, the government is the main source of interdependence, but without the government, America's economy would be shattered.