Buy custom Liberty: Adam Smith And Alexis De Tocqueville
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The support for the free market lies in the way the
prices are determined and the inner workings of the market. The prices
ultimately come from the value of labor. A capitalist will want to
produce as much as possible, in order to make the greatest profit,
therefore his demand for labor will rise...
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As the demand for labor rises,
wages will rise. As more people begin working to meet the increased
demand for labor, production will rise, and prices will fall. Following
this argument, in a free market, everybody is working for his or her own
personal gain, but maximum production occurs, which increases overall
wealth and prosperity...
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General points of the essay
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