Limits on Economic Freedom

If a person can do what he wishes with his own property, time, and energy, then economists say that he is economically free. In all communities, of course, limits are imposed upon the personal freedom of their citizens and these limits are in some cases very complex but in others relatively simple. All individuals are required to conform to the laws made by their goverments.




Complete economic freedom of action can create greate difficulties, because the freedom exercised by various individuals often conflict. If citizens were completely free, some landowners might build factoriesin unsuitable places, while some factory-owners might make their employees word too long each day. If they were completely free, wordker might stop working when they got their first pay, and come back only when they needed more money. Such economic anarchy could cause instability( loss of production etc.) in whole whole economy of a country.

Laws related to economic conditions are sometimes concerned with contracts between employest and employeess. Sometimes they are concerned with wordker’s healthy. Wages and pensions, and sometimes with the location of plece of work. Sometimes they protect the interest principally of workers, while at other times they may be both employees and employers will depend very much upon the political and economic ideology adopted by the goverment, and may be biassed towards employers and capital on the hand , or workers and the problems of labour on the other