Introduction
Free-market capitalism is an economic system in which goods and services are produced and exchanged based on the laws of supply and demand, with little to no government intervention. It is a system widely adopted in the Western world, making it a widespread and often controversial topic. As such, it is essential to understand where to find the most reliable and accurate information about free-market capitalism. This essay will evaluate two credible sources of information on the topic and discuss how to identify the best sources.
Analysis of Sources
The first source of information is the American Enterprise Institute (AEI) article The Benefits of Free-Market Capitalism. This article provides an overview of the benefits of free-market capitalism, including increased economic growth, improved standards of living, and increased job opportunities. The author supports these claims with evidence from research studies, which makes the article a trustworthy source (AEI, 2019). Additionally, the article acknowledges potential drawbacks to free-market capitalism, such as the potential for increased inequality and a lack of regulation (AEI, 2019). That allows the reader to form a balanced view of the advantages and disadvantages of free-market capitalism. Overall, this article provides an objective and well-researched overview of free-market capitalism. The article’s author is a senior fellow at the AEI, a think tank specializing in economic and public policy research. This source is current, published in late 2019, and provides appropriate documentation in the form of citations. This source presents an objective viewpoint, as it does not take a strong standpoint on the topic but reasonably considers both sides of the argument.
The second source is an article from the Cato Institute titled What Is Free-Market Capitalism? This article provides an overview of free-market capitalism’s definition, principles, and history. The article outlines how free-market capitalism has been used to create economic growth and encourages competition, innovation, and efficiency (Cato Institute, 2020). It also examines various criticisms of the system, including the potential for inequality, environmental damage, and the problem of externalities. Finally, the article discusses how free-market capitalism can be used responsibly and how government regulations can be used to ensure that the system works for the benefit of all citizens.
Furthermore, the article provides a comprehensive and balanced look at free-market capitalism, making it a valuable resource for understanding the system and its implications. The article’s author is a policy analyst at the Cato Institute, a think tank focused on economic and public policy research (Cato Institute, 2020). This source is also current, published in early 2020, and offers suitable credentials in quotations. It is also an objective source, as it does not take a clear stance on the topic and somewhat considers opposing viewpoints.
Conclusion
It is essential to identify reliable and accurate sources of information on a given topic. Two credible sources of information on free-market capitalism are the American Enterprise Institute’s The Benefits of Free-Market Capitalism and the Cato Institutes What Is Free-Market Capitalism? These sources provide an overview of the definition, principles, and history of free-market capitalism and an analysis of the benefits of free-market capitalism. To identify the best sources of information, it is essential to consider the context and objectivity of the source, such as the author’s credentials, the source’s origin, and the article’s purpose. Evaluating the sources in this way makes it possible to ensure that the information provided is reliable and accurate.
References
American Enterprise Institute (AEI). (2019). The Benefits of Free-Market Capitalism. Web.
Cato Institute. (2020). What Is Free-Market Capitalism? Web.