Essay: Capitalism is in itself a Form of Freedom

Supporting the views of Friedman, Ludwig Von Mises- Australian school economist- termed as an ‘illusion’ the idea that either economic or political freedom could exist alone (Mises, 2009).

Contributing over the same, Friedrich Von Hayek- Australian born economist- argument that by controlling the economy, one is control of the means to all ends (Hayek, 2001).

Ideally, capitalism is in itself a form of freedom and it an end by itself. It is in capitalism or free market economy that forces of demand and supply counter balance each other to ensure increased wage rates. Additionally, it in the free market economy the common person enjoys the fruits of their labor and efforts to attain a high standard of living. Moreover, capitalism enables people to attain full employment (Mises, 2009).

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