Write a review essay of William Dugger (2005), Duggers Theorem: The FreeMarket is Impossible, Journal of Economic Issues, Volume 39, Issue 2, pp. 309324.
Contents
Introduction: Describe what the assigned reading is about and what you are going to say in the essay.
Main body: Discuss the following four questions (a, b, c, and d) in your own words.
(a) When we say a market is free, what does it mean? Whats your understanding of the free market? Why do many people support the idea of the free market?
(b) Dugger argues that the international payment mechanism cannot be a free market. What are the reasons supporting his argument?
(c) In light of Duggers explanation and argument, is the local gasoline market a free market? Is the New York Stock Exchange (NYSE) market a free market? Either yes or no, provide some evidence to support your answer.
(d) Have Duggers arguments changed your view of the market? Discuss what you have learned from the assigned reading.
Conclusion: Summarize your essay.
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