The U.S. economy is primarily a free market economy. A free-market economy is run by supplying and demand, and in the United States, it contains some government rules and regulations. Just like in all free-market economies, both buyers and sellers create their businesses. They generate their own leads, what they want to buy, and what they want to sell. Today there is a huge debate on how much the government should be able to regulate an order for the U.S. economy to succeed.
Individuals that want less regulation argue that if you remove government restrictions, the free market will force businesses to protect consumers. This means that the sellers will have to create an affordable price for everyone. Those who do not believe in government regulations do believe that the government causes everyone to cost more money. Which, in some case is true. But in order to have successful companies, both small businesses and large, there has to be some type of rules and regulations. Even most small business owners will agree that there needs to be some type of government intervention involved.
Those who argue that the government regulations are necessary to protect consumers, the environment in the general public, claim that corporations are not looking out for the public interest. This means that individuals can be taken advantage of, and the sellers can practically sell at any price point. This can either drive Byers away or bring them to you. In the free market economy perspective is everything. How individuals view certain products and what they are worth as what they are willing to buy them for. For example, if Ferrari is a high-end quality made vehicle that sells for well over $100,000. An individual has the ability to buy that or, on the flip side, has the ability to buy a $20,000 Hyundai.
As you can see, there is a bit of a dilemma: more control or less control. There are pros and cons to both, but in order for it to be a successful free-market, there must be a median. In the end, free markets are optimal, supply and demand are guided by the invisible hand to allocate good efficiently. Like the example given earlier, each individual has their opportunity to choose what and when they want to buy something. Although there may be some government regulations involved, it still does not hurt the free market economy that drastically. In conclusion, individuals need a certain amount of control or rules or regulations set in stone. Ultimately we choose how much we want. Too much and it will hurt us as a whole, too little, and it will also hurt us as a whole. The U.S. must be willing to find the middle ground.
Individuals that want less regulation argue that if you remove government restrictions, the free market will force businesses to protect consumers. This means that the sellers will have to create an affordable price for everyone. Those who do not believe in government regulations do believe that the government causes everyone to cost more money. Which, in some case is true. But in order to have successful companies, both small businesses and large, there has to be some type of rules and regulations. Even most small business owners will agree that there needs to be some type of government intervention involved.
Those who argue that the government regulations are necessary to protect consumers, the environment in the general public, claim that corporations are not looking out for the public interest. This means that individuals can be taken advantage of, and the sellers can practically sell at any price point. This can either drive Byers away or bring them to you. In the free market economy perspective is everything. How individuals view certain products and what they are worth as what they are willing to buy them for. For example, if Ferrari is a high-end quality made vehicle that sells for well over $100,000. An individual has the ability to buy that or, on the flip side, has the ability to buy a $20,000 Hyundai.
As you can see, there is a bit of a dilemma: more control or less control. There are pros and cons to both, but in order for it to be a successful free-market, there must be a median. In the end, free markets are optimal, supply and demand are guided by the invisible hand to allocate good efficiently. Like the example given earlier, each individual has their opportunity to choose what and when they want to buy something. Although there may be some government regulations involved, it still does not hurt the free market economy that drastically. In conclusion, individuals need a certain amount of control or rules or regulations set in stone. Ultimately we choose how much we want. Too much and it will hurt us as a whole, too little, and it will also hurt us as a whole. The U.S. must be willing to find the middle ground.
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