Lets hire kids cause it's cheap

Overall I must say that I enjoyed the reading and found it worthwhile in so far as it presented not only the theories of these economists but also their lives –Had it not been for this book I certainly would have never known about Smith’s likeness to Mudders.

Heilbroner paints a persuasive portrait of the market system. Indeed, it’s hard not to see the market system as wholly benevolent and even liberating when compared to the custom-ruled and authoritarian based predecessors. Who would dare argue against the sovereignty to choose what you will produce and how you’ll produce it; what you will buy and from whom; and what occupation you will pursue. I’ve personally always felt that economic theory is more easily talked about than realized or observed. It’s not as if every person, even those within the most free of states is as free an agent as described. Even within free states we see indirect barriers (nepotism, sexism, racism, unions, etc) that prevent easy entry into any industry or profession. Obviously I understand that no system is perfect and that this one is not entirely intangible (the current ease of transnational exchange attests to its worth) but when does a model or system become too one-dimensional.

Philosophically, it’s disconcerting to think that the system keeping our society from collapsing belittles human interaction into nothing more than self-interest and competition. To be sure, I recognized the merits of the market system in promoting economic freedom, but as Heilbroner notes, economic freedom is not the same as absolute freedom. And in my opinion, if independent of moral contemplation, this kind of freedom not always something to be desired. As he states, markets are “the strictest taskmaster of all… if one pleases to do what the market disapproves, the process of individual freedom is economic ruination”(58). Economic success is nice, but its pursuit can be used to justify unjust acts. Lets not forget about the boys and girls at the Lowdham factory who were “whipped day and night… to stimulate their flagging industry”(105). Sure, I find relief in Robert Owen and his crusade for humane working conditions, but I am nevertheless perturbed that, within this model, nothing more than the prospect of increased profits would drive factory owners to improve conditions. Is man truly only preoccupied with gain?