Religion Past and Present

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Market Economy
(823 words)

[German Version]

The goal of economic activity (Economy) is to produce goods to satisfy human needs. Benefits accrue from having this take place in the context of division of labor. But these benefits can be realized only when there is a mechanism to govern the division of labor. A market economy is such a mechanism. In a market economy, individual participants are free to pursue their own economic interests within the context of the existing legal system. This opportunity increases their motivation to…

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Sautter, Hermann, “Market Economy”, in: Religion Past and Present. Consulted online on 20 February 2020 <http://dx.doi.org/10.1163/1877-5888_rpp_SIM_13628>
First published online: 2011
First print edition: ISBN: 9789004146662, 2006-2013



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