City Essay

In Meagantopia, a nation that I would try and have prosper and grow economically. The rules of my utopian society would be the based on the free-market system. The idea of private property would be respected and obeyed. Each person would have the right to a pursuit of happiness, or the right to gain and own property. There would be laws and regulations that protect and establish the idea of privately owned property. The laws would be there so that nobody's "pursuit of happiness" could be taken away or vandalized. The free-market system would have some regulations such as child labor laws and minimum wages.
Any man or woman could create a business or market and produce and sell as much as they want. It's important to regulate some though, otherwise monopolies could take place and economy would collapse. Self -interest would keep the economy being successful because each person is caring about the interest of themselves and being interdependent on other businesses, would benefit others. People want to make money, but other people are willing to pay for a product. Every person, caring about benefit of themselves, would unknowingly benefiting somebody else. The idea of opportunity cost would be the example of this. Somebody is willing to give up one thing, because the other is more valuable to them. In the end, every person wins. Each person is wealthier. Through this system, the whole economy is wealth and prosperous.