Question

In: Economics

What are your thoughts about the direction that the country is taking from an equity perspective?...

What are your thoughts about the direction that the country is taking from an equity perspective? Do you feel like the US is a free-market system, relying on survival of the fittest? Do these rules of Darwinism apply consistently across the board, or are there separate playbooks? What are the implications of your analysis (in other words, where might our trajectory lead)?

Frame your discussion in the context of social Darwinism and capitalism. Synthesize the concepts that we’ve covered so far in the text, including, but not limited to, work ethic, rights and private property, social contracts, free economics, economic advantage, historical exploitation, ideological values, and critiques of capitalism. For extended reference, consider exploring ideas related to late capitalism. Again, your positions must be supported using ethical theory (with seasoning from economic theory, sociological theory, history, and personal anecdote - if desired.)

Solutions

Expert Solution

The U.S is the largest economy in the World and this majorly because of the capitalist ideology that it follows. The free market economies have free markets with no controls but currently it cannot be said that U.S is a free market economy in true sense. There are a number of factors that indicate that U.S is a controlled economy. There are institutions like the federal and the state governments along with various regulators that control the markets in a number of ways. There is also trade related traffic that is an outcome of the ongoing trade war with China. Therefore it is clear that the U.S markets are not as free as they are claimed to be. They do not exactly follow the Darwinian law of survival of the fittest. Apart from this there are lobby groups that attempt to influence the trade policies and regulations in their favor and develop a separate playbook. The companies with better resources are able to tilt the laws and regulations in their favor. But despite these factors, the U.S economy has grown and equity markets prospered. A level of control is required for the market to remain structured. Based on the past experiences and the current situation it can be said that overall impact of this situation till now has been positive. But if these controls are further tightened then they may produce negative outcomes.


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