The market is defined. Adam Smith made the most influential case for markets, arguing that exchange is a natural human propensity and essential to the division of labour and increasing economic welfare. Bastiat, Mises and Hayek also explain the beneficial power of markets.
- Human Nature
- Market Economy
- Economic Freedom
- Market Mechanism
- Price System
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Rutherford, D. (2016). The Case for Markets. In: Suspicions of Markets. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-40808-8_2
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-40807-1
Online ISBN: 978-3-319-40808-8
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