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Why is economic equity difficult to achieve in a free market economy?
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Elementary School Teacher
The answer is what makes a free market economy work: Supply and demand. If there is a lot of demand and little supply prices go through the roof. If there is a lot of supply and little demand, prices go through the floor. If there is a moderate supply and moderate demand, the prices are modest.
So long as supply and demand remain moderate, economic equity is achieved. However, this is rarely the case. How many people can flip a burger, or clear the dishes off a table, or mop a floor? How likely are you to find someone who demands less than $15/hour?
How many people can teach an unmotivated kid? How likely are you to find one of them who demands less than $15/hour?
Posted by tjbrewer on August 30, 2013 at 3:33 AM (Answer #1)
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