How can people balance economic rights with economic responsibilities?

Economists encourage people to balance their rights and responsibilities in two ways:

1. Support yourself financially to provide minimal strain on the system, and use your education to be a productive member of society.
2. Use your power as a citizen. Elect representatives who will make responsible economic decisions for the country, and make educated, informed decisions about political measures that could impact the economy.

Through these actions, you act with enlightened self-interest to benefit the economy and thereby preserve your own economic rights.

From a philosophical standpoint, we can look to one of the founders of the free-market ideology: Scottish economist Adam Smith (1723–1790). Smith advocated for what he called ''enlightened self-interest'', which is a moral form of selfish behavior. The basic idea is that people who do try to help others ultimately benefit themselves. By being economically responsible, you are ultimately working to ensure a stable economic system in which you can personally thrive.