Private enterprise is the ironclad foundation of the United States of America. Whenever this right is jeopardized, the stability of the country follows in a symmetric trend. However, the value of this system has not always been clear. Throughout time no country has embraced this system quite like the United States. Private enterprise entails the right to market and sell a product or service, as well as the right of purchase. Indeed the consumer, in his participation, is a private enterpriser (Lubell). The open markets, private initiative, competition, and private ownership defining private enterprise make it the healthiest economic system.
The consumer’s interest in private enterprise includes his freedom of choice, as well as the chance to purchase more and more, for less and less. From this perspective, the corporation becomes the slave of the public. This draws the interest of the American people. Power and control are a compelling force that drives the America public. Always looking for a new object to satisfy their needs, the people are on a constant patrol for the next big thing. Anything short of this will be disregarded, and thus the cycle begins.
With the opportunity of choice, each individual’s purchase becomes a crucial vote. Through the corporation’s moneybox, votes are tallied, and alterations are made to provide a product/service that will capture the consumer’s interest (Clark). In other words he holds the power to veto a product based upon his disapproval. The consumer is a fundamental unit of the economic cycle. “His power is crucial. Every cost of doing business, every tax, wage, salary, fringe benefit, material cost, interest payment, and so on, must be ultimately sought from one source, the cost...
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The growth of large corporations had impacted American politics by causing governmental corruption because of the power some industries had in society. Since the government had used laissez faire in the late 1800s for the big businesses to...
MacLaury, J. 1998. “A Brief History: The Department of Labor.” The United States Department of Labor.
In historical context the rise of the free market industries is at its peak. In the year 1999 oil industries, electronics, fast food, clothing lines hit the front line. For the first time ever poor people are able to have what rich people have. Keeping up with the Jones, as many people say. There is this mindset of get it now and pay for it later. This leave most of the working class in debt. While consumers get the latest luxuries they are being “Consumed by Consumerism” (Domigpe). We have all become slaves to the brands of everything we buy. For example, when new electronics come out on the market that is mostly a want, but looks awesome, we buy it to keep up with the Jones and also because the advertisements tell us to. We also need the companies to live, because without them there is no employment. “Because of this circle, which is hanging over everybody in a modern society, the capitalists have pushed us into a place, where consumerism and capitalism go hand in hand” (Denzin). With the deb...
Free enterprise is a form of economy in which the government takes minimal control through regulation. In this form of economy the price and production of goods is decided by the consumers and producers and their wants and needs, and by considering how all of these can be met in the face of scarcity. While scarcity defines resources that are available against infinite wants and needs, it can also be used to describe the fact that future products do not yet exists and new markets have not yet been explored, and in order for consumers’ needs and wants to be met, entrepreneurs must invent new products and open new fields of study. Arguably, one of the most influential entrepreneurs in American history was Andrew
The author of the article believes that through the social and productive cooperation, the society can reach its wealth and prosperity. The production cooperation has two main elements, freedom and good health. However, the author emphasizes that freedom is more important than good health and wealth as well. He points out that "the sick people can be productive, but without freedom the productive cooperation of the marketplace is impossible." He also clarified that the rich people could not enjoy their wealth without freedom. Moreover, Professor Dwight mentions that there is mutual dependence among the production and freedom. He clarified this idea in two points. First, "Markets requires freedom". The author attacks the centralized government that prevents the freedom and dominates the information flows, which is an important element of the market economy. Second, "freedom requires markets". Professor Lee emphasizes that privatization protects individual freedom. In this context he mentions for an important example that we might experience in everyday life, "the pollution problems." These are real problems in our world today, especially in the over populated cities and countries such as Mexico City and Cairo.
All and all, we are all in a consumer cult, whether we want to or not. If you go to the store, all you see is brands and you need to buy one no matter what. But what you can do is stop buying things you don’t need that you think will make you happy. The companies are manipulative in many ways because they show you this “dream” of a life by buying their stuff, once you are hooked on it they recruit you, bring you in to the cult, make you do stuff you don’t want to, and then if you become a slacker they alienate you away from the other “cut” members so you can’t influence them to become a slacker too.
The world of business is a dog-eat-dog world, some may win and some may lose. Large capitalist corporations take a great deal of revenue away from the local businesses. Big businesses dominate the American government and have much more influence and power than small businesses. By defining the importance of recognizing that big businesses has been dominating the government, by refuting those who claim that big businesses do not influence government practices and policies, and by presenting sound arguments and extensive research to show the damage big business has done to society and the influence it has on America’s governing body, one will be persuaded that big businesses has dominated the American government
This paper aims to provides a full understanding of the free market system and how it can potentially benefit individual’s needs. The free market system is fully explained and classical economist’s views are considered separately as well as in contrast with one another. The specific economists discussed include Ricardo, Marx, and Mill. Their individual opinions on how the free market system could impact the economy is examined and the effects of an economic system controlled by the government is also discussed.
Dr. Grudem (2003) concludes his book with a compelling and ardent reflection on the impact of business in relation to world poverty:
Abbate, Cheryl. "Global Poverty." Philosophy 2310. Marquette University. David A Straz Jr. Hall , Milwaukee, Wi. 23 April 2014. Class lecture/PowerPoint
The current issues that have been created by the market have trapped our political system in a never-ending cycle that has no solution but remains salient. There is constant argument as to the right way to handle the market, the appropriate regulatory measures, and what steps should be taken to protect those that fail to be competitive in the market. As the ideological spectrum splits on the issue and refuses to come to a meaningful compromise, it gets trapped in the policy cycle and in turn traps the cycle. Other issues fail to be handled as officials drag the market into every issue area and forum as a tool to direct and control the discussion. Charles Lindblom sees this as an issue that any society that allows the market to control government will face from the outset of his work.
Adam Smith theorized that the economy could be run entirely by consumer interest in his book The Wealth of Nations. Smith has become labeled by many as “the father of modern economics,” however his policy is quite simple, there should be a hands off policy by the government. This means no government interference so that the marketplace will involve only private businesses and consumers. In this way the businesses will be dependent upon the consumers and will be forced to appeal to them by offering incentive in the form of competitive prices or a better product to beat their competition. In this type of economy consumers contain all the power, businesses pass or fail by their own merit and quality. Since businesses are now completely dependent upon the customers, these businesses now have incentive to offer high quality products at the lower prices. It is...
In the latter half of the 19th century, the Second Industrial Revolution produced new engineering and science-based technology, such as railroads, petroleum, and the assembly line, which allowed large corporations to produce, and export, enormous quantities of goods at a faster rate than before. While transforming the American economy for the better, these new inventions drastically changed our society as massive quantities of low cost products became accessible to all, and coupled with a rapid growing population, it ushered in a new era of Mass Consumption. This era essentially changed the United States from a work-based society to a consumer society as people raised the question ‘Why have the old model?’. Soon enough this philosophy led people
Individuals and privately owned companies possess the majority of the means of manufacture. The resources used to produce goods and services are privately owned. The resources that are produced are also privately owned by the individual or company. In this type of system, workers have choice about what sorts of work they will do and the opportunity to change jobs. Individual initiative allows individuals have the liberty to start and operate their own businesses. In a free enterprise system, citizens control the production and distribution of goods and service. Citizens are also allowed to gain from their own investments or undertaking. Since individuals control the production of goods and services, multiple individuals and companies will offer the same goods and services. In order to receive more profit and to blow the competition out of the water, companies need to maintain higher quality at a lower price.
The World Bank Group (2014, April 17). Remarkable Declines in Global Poverty, But Major Challenges Remain. Retrieved March 17, 2014, from http://www.worldbank.org/en/news/press-release/2013/04/17/remarkable-declines-in-global-poverty-but-major-challenges-remain