ABSTRACT

The free market is constantly being defended by business leaders and politicians from intrusions by the big, bad government that are said to hamper the market's efficiency and ability to allocate resources to their best uses. Marxist theory shares with free-market theory the same scientific mechanistic approach to the economic dimension of society. Public policy must be fed by moral perceptiveness, and public policy, in turn, should nurture moral sensitivity and the moral direction of market forces by providing a socioeconomic context in which attuned actions can flourish without undue economic penalty. The use of money greatly facilitates exchange over a barter type of economy and greatly increases the possible number of exchange transactions. Public policy refers to the course of action taken by a public body, usually the government, with respect to a particular problem society is experiencing. The most efficient combination of resources should result if those with the best abilities and talents get the best economic opportunities.