Liberty Discussion on “The Market Economy and Distribution of Wealth”

Liberty Discussion on “The Market Economy and Distribution of Wealth”

Liberty Discussion is a program designed to engage and inform the core members on the ideas of market economy and classical liberal ideas. Discussions are made on the contemporary issues (local or national) through open market perspective. The article is selected and shared within the members to prepare oneself for the program. The program is organized at the venue of Bikalpa – an Alternative on every alternative Saturday (twice a month).

On, Saturday, 10 August 2019 regular participants gathered on the Bikalpa office for the regular formal Liberty Discussion. The discussion was titled in Article “The Market Economy and Distribution of Wealth”

The discussion started with an introduction of Market Economy where members discussed among themselves. Some members stated that in the market economy market plays a vital role in society.  There should be free entry and exit of the firm and the role of the government should be limited. While others added that the market economy doesn’t function well in developing countries due to the bureaucratic hurdles and government policy.

The discussion was forwarded along with the explanation of social incentive and knowledge created by the Market. They talked about the crisis of knowledge in the central planning of the government while making the policy. The discussion further enfolded key insights on collective decision making and its implications on market space. Also, participants argued on the monopoly market of government where they countered about the Nepal oil Corporation and Nepal Electricity Authority. Overall, the participants shared their valid statements on how Market economy works and how we can use it to solve the economic problem and wealth creation.

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