(Answered) Discuss the following statement the point of a liberal

Economics

Discuss the following statement.

[T]he point of a liberal market economy is that it civilises the quest for profit, turning it, willy-nilly, into an engine of social progress. If firms have to compete with rivals for customers and workers, then they will indeed worry about their reputation for quality and fair dealing-even if they do not value those things in themselves. Competition will make them behave as if they did. (The Economist,Sept. 29, 2001, p. 4)

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