Hayek considered free market capitalism to be superior to other economic systems because it handles human ignorance by passing information in coded form through the price mechanism, which indicates areas where profits could be made and resources efficiently used. Additionally, it allocates resources without being predicated on any specific objectives or assuming what the objectives of individual people are. It also facilitates freedom, in that for it to work there need to be rules demarcating
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The UK established its ‘Safe Haven’ policy to accommodate refugees and saved tens of thousands of lives (Jones & Kavanagh 2003).Major also sought a solution to the long-time tensions in Northern Ireland and launched the government’s peace process initiative.
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Federalists and Republicans Introduction Originally, there existed only one party in America which was called the Federalists. This party was the only governing body in America. In 1793, another party emerged. The Republicans were also known as the Democratic-Republican Party.
Pages: 2 (500 words), Essay
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