My good friend Julia Kiewit recently submitted the following to a fellowship. I thought it was a concise, accurate view of the relationship between liberty and free markets. There is much more that could be said about liberty and free markets, especially with regards religions place in relation to these two. Nonetheless, this brief response gives the “gist” of it and is worth a read:
Societies structured around liberty and free markets are important because they recognize the truth about human nature.
Free markets supply individuals with the incentive to work and provide for themselves. The free market concept of the private ownership of goods and services is conducive to personal responsibility, philanthropy, and innovation. Economic liberty rewards those who save, earn, invent, and create, thereby bringing out the best aspects of human nature, creating a strong society and, in turn, a strong nation.
Societies that are deprived of freedom in the attempt to constrain economic liberty and foster reliance on the government fail to recognize the reality of human nature. Government-controlled markets dampen economic progress and weaken nations because they discourage the flourishing of the individual. Consequently, these societies feed the worst in human nature and discourage the best. History is rife with examples of how the loss of freedom brings about poverty and injustice.
The advancement of liberty is important because it alone allows for the recognition of free market values in all areas of society. In order to give meaning to responsibility, individuals must be free to grow, learn, and explore ideas, and recognize the effects of their decisions. ‘