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Free market capitalism

A combination of free markets and governments that support the ’Do Nothing Policy’ fosters prosperity and freedom in the respective countries. An analysis of the socioeconomic status of countries that have followed the policy of free market capitalism demonstrates that capitalism produces wealth through comparative advantage and exchange (specialization). The free market capitalism policy has led to a significant increase in the per capita income and wealth in countries such the United States, Western Europe, Canada and Australia. Free market capitalism facilitates the realization peaceful political societies and the protection of individual right and freedoms.

The adoption of free market capitalism does not guarantee the attainment of the high levels of peace and prosperity in the U.S and Western Europe. For example, a significant percentage of countries in the Middle East and South and Central America suffer from political instability and dictatorial leadership despite having capitalist economies. The case of Middle East and South and Central American countries substantiates Hernando Desoto argument that adopting free market capitalism policy is not enough to achieve political stability and maximization of personal freedoms. Desoto advises countries to choose a capitalist system and adopt other measures and policies to ensure the realization of peace, prosperity and personal freedoms evident in the U.S and Western Europe.

A country can adopt a free market capitalism policy but fail to realize prosperity and personal freedoms due to an oppressive dictatorship regime. For example, the dictatorial regime in Communist China disregards basic rights such as freedom of speech, freedom of worship, freedom of association and the right to a fair trial. The adoption of capitalism in Communist China has had little effects in producing prosperity and freedom because of a dictatorial regime, which is keen on denying people their personal freedoms for fear that those freedoms might lead to the end of the dictatorial regime

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