“We often miss opportunity because it’s dressed in overalls and looks like work” -Thomas A. Edison

Combining all of the topics we have discussed, we now come to opportunity. Voluntary Exchange brings about opportunity in transactions. Innovation brings opportunity to the market space. Competition brings opportunity in production and distribution of services, along with price point, or market price scope for a business/consumer. 

This is what we all seek and what we all need in order to thrive. Individuals, families and societies prosper in systems where opportunities exist without excessive and overreaching boundaries. It is all around us, but the confines of authority play a big role in the lack thereof in some of our neighboring societies. This concept exists where one utilizes the freedoms one has to pursue their journey in life. So it’s only appropriate that we have all the necessary freedoms we possibly can to enjoy. 

 People will argue that opportunity is subjective and abounds in any market condition due to its definition. However, when you look at more regulated economies, governments have essentially built regulatory boxes in which a business or entrepreneur can compete in. This can hinder, restrict or even take away our liberties.

This week we will be diving into what exactly this principle and virtue looks like in a free market, and how regulation limits the choices you as an individual are able to make. Can you think of how you have been limited based on government regulation? 

Written by Caleb Hogan from ofthefreemarket.com on January 25, 2021