Have you ever wondered what could happen, if countries around the world had no institutions that oversee the state of their security? What if a person considers taking the laws in his or her hands? Could there be peace which is an essential aspect in business today? The idea of subjecting an individual to natural rights within his or her environs is what defines the term libertarianism.
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These natural rights include property rights, an individual’s self rule and making use of neglected resources. There are two versions of libertarianism which include:
- Total libertarianism
Individuals, especially those involved in businesses should be permitted to do their tasks freely for their businesses to expand beyond borders. By this, the version emphasizes the idea that the government should consider coming up with rules and regulations that protect the right of an individual‘s set of properties.
This means that it should not meddle with any individual’s modes of trade, thus an indication that one can opt to dominate in the market since he or she is protected by laws that do not permit other individuals from interfering with his or her properties.
Total libertarianism ensures that a force from any existing government institution, theft, and fraud do not exist in the world of business. The strongest part of this version is that it allows an individual to exploit his or her potentials, therefore, enabling the business to grow. The worst part of this version is that it does not give an individual a chance to share ideas with other institutions because of the liberty subjected to him or her.
- Moderate libertarianism
Having some set of rules and regulations that protect a business from free market is an important aspect because it encourages the process of sharing business ideas with business oriented people. It is also a reasonable version since it ensures that there is equal and free market competition among different countries that share trading ground. This ensures equal distribution of resources because goods and services will be flowing from one country to another.
Moderate libertarianism is also important because it encourages the development of various places where the trading activity takes place. The problem with this version is that free market will encourage production of counterfeit goods and services which are harmful to a consumer. Another problem with this version is that the rates of taxation will increase no matter how hard the prices of various commodities are reduced since the government depends on its own economy.
Moderate libertarianism is a free market philosophy which should be considered because it encourages the involvement of government in the line of trade between different countries. A government that protects its business institutions by creating rules and regulations ensures that the business is smoothly run, thus it advocates for
- No monopolizations in free market, and
- No oligopolies between businesses in the market
This means that the rules put in place will ensure that free competition is well protected as per the government’s limits. This can be done on matters such as the central banking which will ensure that the economy of a state is properly taken care off.
Others include construction of roads which will oversee the process of transportation and importation of goods and services that take a shorter period of time. The issue of unequal distribution of resource can be eradicated if this version is considered by individuals from all over the world since the rate of currency circulation will not be limited to one country.