I asked a few friends, in various social settings: if they had to choose between having political power and economic power, which would they pick? Every one chose economic power. I'm aware that their answer may be influenced by their social class, education and perhaps exposure, but I also come from a generation of people who aspire to gain economic freedom so that they can own the means of production.I believe this yearning for economic freedom is not limited to urban people. Actually, I'm certain that a young girl from Tabankulu in the Eastern Cape would rather own the local store than be appointed local chief.In Capitalism: The Unknown Ideal, Ayn Rand defines economic power as a positive because it offers a reward, a payment. I guess to many, economic power is seen to reflect creativity, production and voluntarism, and offers incentives, gains and rewards, whereas political power is often seen as destructive and involuntary.story_article_left1Economic power invokes the power to produce and to trade what one has produced.In a free market economy, where no person or group can use physical coercion against anyone, economic power can be achieved only by voluntary means: by agreement of those who participate in the process of production and trade.Rand writes that in a free market, all prices, wages, and profits are determined not by the arbitrary whim of the rich or the poor, not by anyone's "greed" or by anyone's need, but by the law of supply and demand.But can the mechanism of a free market reflect all the economic choices and decisions made by all participants?In a free market, buyers and sellers are allowed to transact freely based on mutual agreement on price without state intervention in the form of regulation, subsidies or taxes.However, in reality, we know very well that people do not trade their goods or services by mutual consent to mutual advantage according to their own judgment. Today, wealth is not acquired by a "democratic vote" represented in the buyer's ability to choose a product based on price and quality.Many believe political power is exercised by means of a negative, by the threat of punishment, injury, imprisonment or destruction.Therefore, while the business person's tool is value, the bureaucratic tool is fear. This may be true and history is littered with examples of failed states as a result of poor political choices imposed on societies. But history is also littered with examples of destructive economic choices.The 2008 financial crisis, which reverberated throughout the world, crippling the global economy, is a classic example of the destructive nature of greed and economic power.story_article_right2The financial crisis was also a reminder that political power and economic power are not mutually exclusive.Another example is the funding of political parties by corporates, which can make politicians beholden to their donors and not necessarily their constituents. An unhealthy symbiotic relationship between government and corporates can result in a neglect of economic policies because the government has chosen to turn a blind eye, allowing economic power to become destructive.In South Africa, it has become apparent that transformation cannot happen if those who have economic power are unwilling to partake in the transformation agenda. There needs to be a more balanced relationship between economic power and political power.Many of my well-educated, hard-working and smart friends feel as if they are running on a treadmill, beating their previous time record yet not really going anywhere because their freedom is limited.Leoka is an economist..