Economic Responsibilities of Citizenship in a Free Enterprise System
- Austrian economist Friedrich A. Hayek once wrote that in a free society -- of which a free enterprise system is a necessary element -- individuals have the right and responsibility of choice. According to a report on consumer choice by the Cooperative Extension Service at Kansas State University, the responsibility of choice for consumers means that people should analyze their needs and wants, as well as consider the resources they have, before deciding what to purchase. Workers, meanwhile, have the freedom to pursue whatever occupation they wish but also bear the responsibility for obtaining the education and training necessary for the jobs they want.
- Under free enterprise, consumers can choose from an array of goods and services, many of them offered by competing firms. This right to choose carries with it the responsibility to seek reliable information about a product before purchasing it. This includes evaluating the accuracy and reliability of labels and advertisements.
- Once consumers purchase goods, they assume the responsibility for using those goods responsibly. The Kansas State University Cooperative Extension Service reported that this means following manufacturers' instructions for use and keeping receipts, warranty information and instructions for reference.
- Consumers who exercise caution in choosing and using a product have the responsibility to complain to the retailer, manufacturer or service provider if a product or service is defective or develops problems. For products that have serious defects that could endanger the health and safety of others, citizens have the responsibility to notify not only the manufacturer and retailers but also appropriate government regulatory agencies.
- Under the free enterprise system, consumers, workers and business owners have the responsibility to be honest, which includes honoring legally enforceable contracts, paying their obligations and using consumer and business credit wisely.
- Consumers who exercise their rights in the free enterprise system and accept the accompanying responsibilities are "their own best protection," according to the Kansas State University Cooperative Extension Service.
