Would an economy work without stability?
I say no, and this is because stability is a main component of any economic system. An economy builds off of being stable, and without it, there can be no equity. Stability is essentially a requirement for every economic system except for one based solely on freedom, because you can't have equity without a stable economy.
Another reason I believe economic stability is the most important factor is that a stable economy has a well-functioning system, including a sound monetary system and other essential components. It also requires a good government system with effective leadership and individuals who work to support the economy, along with a fair judicial system. This is just the surface of what a stable economy entails.
Economic freedom is the second most important aspect of an economic system. I think this because economic freedom allows individuals the liberty to operate within the economy while still having a reliable system to ensure they do not engage in harmful or illegal activities. Without freedom, a place like America would be a terrible environment, as the people would essentially feel like prisoners under a flawed system.
Concerning economic stability, I will always contend that it is the most important aspect of an economic system due to the multitude of benefits that arise from it. Stability supports essential elements such as housing, food security, and family welfare—all critical to a functional economy. This is why I strongly believe economic stability is of utmost importance: it fundamentally shapes how people live and greatly enhances the overall economy.