The Sidney herald., 1956-04-05
LIST place high school BY
Clifford Conradson, Sidney, Mont.
free Enterprise and

The people of the United States
live and make their living under
an economic system called the
free enterprise system; SO do the
people of many other countries
Most of us consider this econom-
ic system a basic part of our way
of Life. We wish to see it main
tanned and strengthened, In part,
because we have a feeling that
all u other freedoms depend on
free enterprise.
Strangely enough many OF us
couldn't describe what is meant
by the free enterprise system, nor
could we explain exactly how 1t
differs from any other economic
system. However, to me, the Tree
enterprise system is n in Whlcn
the means of production are prl-
vately owned and controlled and
given protection by the democrat
ic government which we have IN
our country. Each person Is free
to make his own decisions In a
democratic country such as ours
and each mans income is rough
ly in proportion to what his labor
and his resources produce.
This system is first found IN
America in the early l70O's. Free
enterprise came into existence as
a reaction against government
control of economic life. Its de-
yelopment was given a boost
when Adam Smith, a Scottish
philosopher and economist, pre-
serted the free enterprise system
idea in positive form IN has
ssWealth of Nations" which was
published in ITS. In this book
Mr.. Smith demonstrated that uhe
interests of the nation r best
served by permitting each person
make his own decisions and
follow his own sef-interest IN
economic life. This is the central
idea of the free enterprise sys-
tenn.
You may ask, "But how can an
economic system work Ii 1T leaves
EVERYONE free to do as he pleas
Let's start answer by
finding out what problems OF
organization must be solved by
any kind of economic organiza-
ton. Economic life consists of
producing, exchanging and con-
summing goods and services. By the
way the consumer spends his dol
lar, he determines what is going
to be produced and in what
amounts. The manufactures, IN
turn. makes double amounts OF
5he product of which he SELLS
more. His sales depend on how
5ood a product the public wants
md how much the public wants
% spend for a given ARTICLE.
Competition is necessary 10
make the free enterprise system
We shall say that compe-
,ition exists whenever each per-
on. each business man, each
worker, each buyer, each seller
IAN get ahead only by offering
more for less. This problem IS
made more difficult by the fact
hat some persons consider COM
petition an undesirable way of life
md that almost all OF us dislike
Iacing strong competition in our
economic activities. The gov
.rnment has an important role
play in a free enterprise So
.iety particularly in maintaining
he conditions necessary to make
he system and giving protection
o all. 4
The thing that makes free en- -,
erprise promising for the future I
: its accomplishments so far. The
,ipgest apparent threat is war.
ven though the free enterpr1s- A.,
nations win, war always :
aIises turmoil, making 1t diff !
nit for any type of economic :
vStem to work efficiently. :
Free enterprise rs also threat +
ned by problems from within; {
the system works, it shows :
ome obvious faults, such as, the !
andency to drop from prosperity I
, depression. The existence OF :
in the midst of plenty
another. However, problems of :
MS kind can be reduced by gov 4
rnment control of commodities a
nd controls which would flood C
ne markets of a certain commod- +
The future OF free enterprise t
epends chiefly on whether the a
,aiority of us will be willing b
|, accept the features that make o