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Pani 1
Enerd Pani
Business Ethics
Professor Wagnon
3/23/17
Libertarian Ethics
The idea of Libertarianism is a belief focusing on the individual who makes conscious
choices within various markets on the topic of what is ethical and what is discerned to be free
given certain factors. Libertarianism beliefs in the idea of “Laissez Faire” or hands off, where a
market should be allowed to operate by itself without any regulation or any form of intrusion by
an outside force which frequently becomes government. Libertarianism gives a great deal of free
rein a person is allowed to pursue within a market to the extent that a person does not affect
someone without their consent. The main doctrine of libertarianism is that self-interest drives the
interest of the collective. The ideology was most famously pioneered by the Austrian School of
Economics and the Chicago School of Economics to form Libertarianism’s main establishments
of thinking. First, idea of libertarianism can be seen through the topic of the type of buying and
selling power as a Libertarian would see it.
A libertarian would believe that the incentive capitalism gives ensures the best possible
products for individuals within a market. For instance, if a product is satisfactory, then buying
power would dictate that the product sells well given that the patrons are willing to give capital
to the merchant for a service. The self-interest of the merchant ensures that he creates the best
product within a market as competition would make his customers go elsewhere. This balance
between buying and selling power allows for a market be self-maintained by the relationship
Pani 2
between supply and demand. This type of mantra can also be seen through the use of labor in a
market.
Libertarianism believes that a person can decide to take any job he wishes, yet he/she is
attached by the rules of the business for which he/she is employed. Libertarianism believes in the
idea of Cooperation without Coercion which highlights the ideology that no one is forced to give
a service or is given forceful means to do something. For instance, a libertarian would believe
that a person can withhold service, but that individual would suffer the loss of profit and would
go out of business or potentially correct his/her actions. In short, people can treat others however
they want within the realm of their own property or establishment, but those alienated may
choose to use their purchasing power as a demonstration against the establishment.
