Charter cities

Charter cities

            Charter cities are cities in which make it possible for a nation to grow and gain prosperity. However in order to make a charter city prosperous there are some guidelines or rules that should be implemented or followed. I believe that economic freedom, the right to owning property, and a free market economy are all things required to help charter cities prosper.

            I would like to start off by talking about the right to owning property. If we as men have the right to life, we should have the right to sustain that life through property. Not only is this important to help people want to come and live in our charter cities but it also increases the value of life style provided, helping to set up a free market economy. People have the right to pursue happiness and one way they can do that is through the right to owning property. If people have the right to owning property it helps the economy to have growth opportunities because in an economy there will always be scarcity.

            Secondly I would like to talk about the second rule I would make for my charter city, which is having my city be one of economic freedom. Economic freedom is created by a system of rules where property rights are protected. In countries with economic freedom they usually low tax rates, low amounts of regulation, and little corruption. This is an important thing to have in a charter city for multiple reasons one it helps create a strong free market economy and secondly it sets up and economy where growth can take place. One place that this would help growth take place is in technology. If you look at cities all over the world that have advanced in technology their standard of living is high. They have prosperity because they are creating faster and better ways to accomplish tasks. Their economies are strong because of their developments in technology. A free economy also gives the right of choice to the people causing opportunity costs. Like I mentioned there will always be scarcity in an economy but with this scarcity comes opportunity costs, which are the costs of making a choice. For example I am writing this essay therefore I am forgoing an activity. For every action that you make there is an opportunity cost, this helps to create a free market.

            Thirdly I would like to talk about a free market. This is in my opinion the most important element to make a charter city prosper. Why? You might ask. Well you see a free market creates a society in which all the things I have just talked about are made possible. How are they made possible? Well through a free market economy there is something called the “invisible hand.” the market forces of the price system through the invisible hand because the invisible hand guides each self-interested market person to act in the interests of others. When they act in the interest of themselves whether it be for money or status they are acting in the interest of others by creating a better product. When people act in the interest of themselves they try to put the best possible product out there and through this the market gets more competitive which creates better prices and products for society. A free market economy is a win-win solution if you want to have a prosperous economy. A free market economy also creates the opportunity for people to have to make choices, the right for them to have property, and it works well in free economies.

            The rules or standards stated above are the things that I would implement into my charter cities because I feel like they give the most opportunity for growth and prosperity. I also thing my rules are appealing to people so I believe that my charter cities would have an abundance of people willing to comply with the rule of my society. I think overall these are the main things needed to start what could become a very prosperous economy.