Free Enterprise: What it is and How to Use it

Paper Summary:

The paper explains free enterprise (FE) as the principle that individual people and companies should be allowed to pursue their own enterprise without threat from over-regulation by government and from government intervention. The paper details the basic components of private property, a free press and a laissez-faire economic environment. The paper explores the benefits of FE for a state and its people if implemented correctly.

Outline:
What is It?
What Can FE Do?
Basic Underlying Components
Free Enterprise and How to Use It
Government in Free Enterprise

From the Paper:

"American Free Enterprise (FE) has its foundation in the principles of free enterprise and capitalism as outlined by Adam Smith in his ground breaking work on economic theory, The Wealth of Nations: "...the basic principles were first laid down in a book published in 1776 by the Scottish economist Adam Smith (1723-1790). Known as The Wealth of Nations...it has often been referred to as ''the bible of capitalism''..."(Shaffer 1). One of the basic tenets of FE as propounded by Adam Smith and as embraced by the United States is that individual people and companies should be allowed to pursue their own enterprise without threat from over-regulation by government and from government intervention."

Sample of Sources Used:

• Estrin, Saul, and Manuela Angelucci. "Ownership, Competition and Enterprise Performance." Comparative Economic Studies 45.2 (2003): 173+.
• Friedman, Milton. "Private Property." National Review 5 Nov. 1990: 55+.
• Gupta, Rajat. "A Case for Corporate Freedom." The McKinsey Quarterly 1.3 (1998): 154+.
• Lamb, David. "Free Enterprise but Not Freedom of the Press: In Vietnam, Self-Censorship and Government Scrutiny Muffle Journalists." Nieman Reports Summer 2002: 69+.
• Moore, Stephen, and Julian L. Simon. "4 Twenty-Five Miraculous U.S. Trends of the Past 100 Years." Global Fortune: The Stumble and Rise of World Capitalism. Ed. VAsquez, Ian. Washington, DC: Cato Institute, 2000.

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