A free market implies minimal state interference, so prices are determined by demand. It has both advantages and disadvantages. Product quality is a key factor in competitiveness, and manufacturers have to innovate for adapting to customers’ preferences. The free market makes the shortage of goods impossible because demand creates supply. On the contrary, this type of trade is exposed to economic downturns and instability.
The statement “the freer market, the freer people” is not entirely correct, even though it seems the opposite at first glance. The free market does not provide all able-bodied people with work. Only those whose profession is in demand have a job; therefore unemployment increases, and social responsibility and social support of the population decline.
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