Free Market and Ethical Issues

In this assignment, you will write a research paper about social
problems where the free markets are not allowed to function, which
includes the market for a particular illegal good or service, a
regulated market, etc
Markets are mechanisms for coordinating the set of connections of
production operations that are distributed throughout the whole economic
system. Thus, the market is the predominant and determining link
between producers of goods and services and consumers. Accordingly,
markets, as an exchange of goods and services that takes place as a
result of buyers and sellers interactions, are generally considered the
most efficient allocator of resources in the market economy.
However, free markets are unable to solve many social problems, and
they make others worse. One such social problem is illegal drugs.
Another example is environmental issues such as pollution. For one
example of a social problem where supply and demand is not allowed to
function freely, conduct basic research on markets for human organs.
There are black markets (underground economies) for human organs in some
countries. But a trade in human organs, based on supply and demand,
raises enormous and troubling ethical issues and shows that free markets
are clearly limited in their ability to provide answers to social
problems.
Course Outcome practiced and assessed in this assignment:
GB540-1: Evaluate ethical issues in economics.
Directions
Your research should be about social problems where the free markets
are not allowed to function, which includes the market for a particular
illegal good or service, a regulated market, etc.
Select a social problem where free markets are not allowed to function, and conduct research on the social problem.
Describe how free market features could be introduced to help
alleviate the social problem through free market operations of supply
and demand.
Discuss the risks of introducing market mechanisms of supply and demand in situations where ethical issues are present.
Explain roles of the government in maintaining ethical business practices.
Criteria
Your assignment should have a cover sheet with the following
information: Title of the paper, Your Name, Course Number and Section
Number, and Date.
It must be a minimum of five pages long (excluding title page, references, etc.).
Be sure to include the criteria located in the rubric below within your paper.
It must be APA formatted with citations to your sources and your
last page should list all references used. For assistance on APA format,
visit the various writing resources, accessed under the Academic Tools
area in the left navigation pane.
You must use a variety of three objective, high quality, and current
sources. Peer reviewed articles, articles published in journals,
textbooks, and library resources found in the Library are examples of
high quality resources.
Note that Wikipedia, Investopedia, etc. are not considered as reliable resources for this research.