Free Market Or Government Intervention

1224 Words Apr 16th, 2015 5 Pages
Muhammad Zharfan Bin Azhari
Human Systems Paper 2
April 16, 2015 Free Market or Government Intervention
In the 21st century, human and technologies are inseparable. In past decades, there has been an astonishing amount of development in modern world’s technology. Nanotechnology is one of them. This technology is based on nano-scale and it can be used in many different areas because of its small sizes. (Metchis). However, there is a huge amount of uncertainties on the hazards of nanomaterial due to lack of research in this field in real world applications. There is a lot of things that need to be study on this technology. For this technology to be considered fully developed there is an immediate need for a balance between a free and unregulated market with some involvement from the government because both systems have its own strengths and weaknesses that will be discussed further.
Free-market. This term has always been debated by economist for its pros and cons. In the free market, the buyer and the seller has freedom in doing their businesses. There will be no rule or any sort of regulations that been set by any authoritative body to intervene with their businesses. This type of situation is needed in the technology development business. Companies and firms can spread their wings and expand their research and development (R&D) department without government intervention that could disturb their growth. Government organizations have always been associated with biased…
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