Conservative and Libertarian Views, Choice in the Free Market

November 18, 2014

By: Brent Stackhouse, MBA

The Stackhouse Agency, LLC

Keywords:

Austrian economics, behavioral economics, belief, betterment, choice, civility, communion, conservatism, consumer, endowment effect, free market, influence, laissez-faire, libertarian, libertarian paternalism, morality, poverty, prosocial behavior, prosperity, regulation, religious primes, social framework, transaction, value, welfare state

Word Count: 2,111

Abstract:

Behavioral economics informs the planning and strategy of many organizations and businesses. There are conservative views of the free market as well as libertarian views of the free market. Such distinctions are not necessarily political distinctions. Belief can have a profound impact upon decision-making. Belief is not necessarily religious, yet it has an impact - how one may interact within a free market. Belief is a major component of the market for considerations beyond price and profit. Certain items are included in the free market but are deemed as basic needs by some for members within a society. Providing for some within society or allowing opportunity is either seen as an aspect of the free market or an offshoot of the free market. A conservative or libertarian view may impact notions of regulation, what items are sold in a free market, wealth creation, and wealth accumulation.

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Brent Stackhouse, MBA email: bstackhouse@StackhouseAgency.com