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Salient. Victoria University Student Newspaper. Volume 36, Number 19. 2nd August 1973


Studies in the subject of Business Administration, Economics and Accountancy at Victoria University are conducted with a very strange logic. In Stage I the student cannot escape the implicit or explicit message that capitalism is the most efficient economic system, and that this is in itself a justification for the teaching and learning of commerce in the university.

The "free-enterprise" system is judged to be the best for the following reasons: (1) It encourages competition in the market place and this competition keeps producers on their toes; (2) The "free-enterprise" system reduces the costs of goods and services to the consumer; (3) A system of private enterprise provides a choice for the consumer. The major problem however, with the above justifications is that they are all false.