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Economics, Politics and the State

(2) What is the relationship between individual material (or economic) interests, politics, and the agenda of the state?

The free market has always been the most efficient way to control or manage the economy once the most basic needs of life have been satisfied. The free market implies private ownership of property, and the economic freedom to buy, sell, or trade with anyone you chose. One of the key roles of government in the free market is to ensure there is a level playing field is to ensure that property rights are protected, and that there is a mechanism in place that permits enforcement of contracts. The goal or agenda of the state is to promote economic growth. To do so, it must find mechanisms to provide a safe business environment in which rules govern business transactions to ensure that they remain fair.

As a general statement, individual economic interests are protected in the free market based on the fact that sellers cannot coerce buyers to purchase their products. Thus, buyers are protected from the influence of sellers to the extent that they have a choice about from whom they will purchase goods and service. A similar protection is available to sellers. The seller is not compelled to deliver goods and services to a buyer simply because the buyer has placed an order. The protection for the seller relates to the fact that they can market and sell their products and services to other buyers.

A similar kind of protection applies in other economic relationships, such as the relationship between employees and their employer. If an employee is dissatisfied with one or more aspects of their current work environment, they are free to pursue a job with another employer. Absent any specific contractual language, employees are free agents able to sell their services and talents to any company.

According to the Society for Social Research website, Karl Marx believed that wage labor is not voluntary, but so...

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Economics, Politics and the State. (1969, December 31). In LotsofEssays.com. Retrieved 22:17, April 18, 2024, from https://www.lotsofessays.com/viewpaper/1706450.html