The term ethical and economics should never be put into the same sentence. They
are almost oxymoronic in the sense that in order for one to succeed on an
economic level, ethics are usually never involved. America as we have come to
know it is a world full of mice and snakes. The mice are those in society who
voluntarily choose to live off of the prosperous, as the snakes go out and get
their prey. The capitalistic society we live in known as America is truly what
we make of it. The standards and principles of America's capitalism are truly
ethical and fair. One is reminded of the Darwinian theory of evolution that only
the strong survive. Those who do not provide for themselves will be left to
"die" in American society. The American economic society that we have
come to know and love is truly fair and equal on all levels. Since the end of
Feudalism, America has lived up to it's reputation as a Capitalistic society.
The True Market System kick-started the freedom of possibilities of capitalism.
The right to private property, choice, voluntary exchange, competition, and
economic incentives are what we thrive towards every day. With the incorporation
of voluntary exchange and competition, American's were forced to go out into the
world and produce in order to survive and make a profit, much different than
traditional economics when a child would inherit his father's work. Economic
Incentives, better known as profit, lead to a broader array of choices that we
are able to make as free-minded Americans. The comparison between Socialist and
Free Market economies show us how truly ethical and fair America's economic
system truly is. Resources in a Socialistic Economic system are government owned
and regulated, which in turn, the government determines what and how much of
"what" will be produced. The capital from the government owned goods
is then distributed among the general population, thus totally eliminating
inequality and Capitalism. So no matter how talented/gifted one is, he is just
as valuable to his family and friends as the guy that makes my French Fries at
McDonald's. A wide disparity exists among people in the United States. Our free
market economy provides us with the ability to prosper and soar above our
competitors. Resources are privately owned which clears the way for voluntary
exchange. The role of the government in America's Free Market economy is to help
ensure that everything runs smoothly with minimal interference. The fair
economic system that we live in provides for a wide disparity among the rich and
the poor, which in turn provides for a better trade market among the customer
and consumer. The circular flow model is a perfect example as to how the
American economic system flows among different levels in society. Land, labor,
and capital are equally distributed and fairly regulated among the Factor
market, households, businesses, products, and the government. The system of
Economics in the United States of America is balanced and geared towards the
citizen, not the government. Hamilton's development of the U.S. Economic system
served as a blueprint for America to follow for the coming years. The national
bank, taxes, debt, and loans are all perfect examples of how the people choose
their own paths in life. They were/are responsible for their finances, rather
than allowing them to be regulated by the government. The incorporation of
Specialization allowed for a more service oriented society. Those who are
qualified to perform a certain task are able to thrive in America's economic
system. Absolute advantage and monopolies play a huge role in free market
economics, allowing the seller to control his/her own destiny. The widespread
availability of goods allotted the customer to shop around. The disparity of
prices among the buyer and seller are constantly being regulated by Adam Smith's
theory of the Invisible Hand-the idea that prices are automatically regulated
among sellers and consumers from a supply and demand standpoint. America's truly
Capitalistic nature is thrown into question by the alarming difference between
the have's and the have not's. The status quo in U.S. economics is quite
off-balance, but no one is to blame for it. Darwin's theory of evolution again
comes into play. Adoption in such a case as our financial imbalance is not an
option. Poverty among single parents is steadily on the rise. However, the
choices that they make like unprotected premarital sex are totally up to it's
participants. 66.6% of poverty-stricken people are single parents. The Free
Trade economic system in which we live provided these people with the resources
and opportunities to prosper. Because these people are financially unable to
educate themselves at a higher level, is no one's fault but their own. People
have the ability to choose their own paths in the walk of life, nobody is
forcing anyone to be ignorant. To say that America's economic system is fair and
ethical, would be an understatement. Living in an independent country full of
freedoms and choices, we are more than apt to provide for ourselves. The chances
for prosperity are out there at arm's reach, some people are just too lazy to
get up and take care of business.