ABSTRACT
This chapter describes that some see free market capitalism as a horrible system: morally wrong, a harsh regime of inequality and social injustice, "red in tooth and claw," the rich devouring the poor. They believe businesses make their profits through exploitation at the expense of society. The economy's engine is the production of goods and services people want to buy. Some sneer that believers in the free market are deluded because the free market itself is a myth and markets are never free. Competition in a free market actually rewards moral behavior—those vying for business advantage want to be seen by potential customers, employees, or investors as trustworthy and ethical. Market economics will always be found morally flawed when measured by a standard of perfection. Price is a key element of market economics; it's the regulator matching supply with demand, and it also promotes economic efficiency by rationing resources according to how people truly value them.
