Power of Markets - 9/6/12

Blog Entry: 9/6/12

Discuss three significant ideas or arguments that Welan is making about markets. Be specific and provide examples.

Whelan's first argument starts off by saying that by expanding global economics and boosting profits, businesses will be made and shareholders will be happy with the results. An example of this would be when Coca-Cola gave out free Coke products in Germany to expand themselves on a global level. Once Germany was back on their feet, Coca-Cola began selling their drinks in this country which boosted their products as they were selling more than they were before. Shareholders were obviously happy because the profits were greater and ultimately, Coca Cola's business became more successful.

Secondly, the market economy deserve the credit for advances because there are no central authorities telling people where to put their money or what to do with it. In stores in America, managers have the ability to purchase what they wish and price it any way that would like to compete with competitors. They are able to purchase any amount of food, magazines, toys, or soaps to meet the supply and demand. In other countries, the government tells stores the exact amount of each item that they are allowed to have on their shelves and the price that they are allowed to sell it for.

Third, global economics is important in order to expand the companies audience and buyers in order to make more money and be successful.