ABSTRACT. What this essay reaffirms is that there is an intimate (logical) connection between morality (ethics) and liberty since moral choices must be made freely, not coerced. Coerced conduct cannot be morally good or bad (which is why hostages are not blamed for complying with the orders of their captors). pp. 30–51
JEL codes: D53; E44; H44

Keywords: liberty; morality; coercion; free markets; choice; decision

How to cite: Machan, Tibor R. (2015), “Morality and the Free Market Economy,” Journal of Self-Governance and Management Economics 3(3): 30–51.

Received 29 March 2015 • Received in revised form 10 June 2015
Accepted 10 June 2015 • Available online 15 September 2015

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