When a society organizes itself with the intent to serve and grow, there then is a market that is developed. Businesses will be born and they will charge people to be able to provide goods and services. If a colony was formed on an island then there would be those that would produce clothes and then those that would manufacture fishing poles, nets, and so on. There would even arise competition. Another business can come along and sell a fishing pole at a cheaper price than their rival. Then there would be a race to see who could not only make the cheapest product, but the one would the best quality. The market, or the people within the society would determine which product they liked the best and that would be the business that would thrive and prosper and the market benefits over the competition between businesses.
The market should be wholly up to deciding which products and services that they want to purchase, but all too often the government intervenes and determines what companies are going to be the ones that prosper and this is done through bailouts, subsidies, and other incentives. This would have an adverse affect on the market and the market would be influenced toward certain products or services that they might not otherwise have been.
The free market also would stamp out racism and discrimination when it comes to business. If a business owner was a racist or they hired people based off of a discriminatory preference then the market would determine that to be morally and socially wrong and the business would suffer for it. To think otherwise would be to say that we as a whole in society are not a charitable or a kind hearted people and I do not believe that is the case. There are pockets of people that believe in gender and racial superiority, but they are few and the majority would rule them out.
The government steps in and tells people what to think when it comes to discrimination. That is not necessary and they are not the force to dictate morality and social engineering and especially based on the economic situation they have placed us in. It is hypocritical on their part.
The market is the determinant of morality and economic progress and the government in the inhibitor far too often. Their voluntary stepping aside is the only way to experience true growth as a society and with our economy. If the market would to one day side with immorality then that would be a different problem to confront.