Q1.We should not be concerned about sweatshops operating in developing countries because they provide us with affordable quality clothing. However, it is rumored that most of the sweatshops use child labor. Should we stop buying clothes that are imported from developing countries? What are the moral and economic implications of such decision?
Q2. Friedman and Hayek suggest that unfettered market economy is superior to government or command economic system.
a)What are the pluses and minuses associated with each economic system?
b)Although Friedman and Hayek argue that unfettered market is capable of regulating itself (for the benefit of all), Keynes argue that markets are incapable of regulating itself and as such government intervention is imperative. What do you think?
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