Question

• Consider free-market capitalism. Is it good? bad? Do you like it? What are its prospects in the U.S. over the next few decades? What are the alternatives?
• Dimensions you might employ are:
  • distribution of wealth
  • distribution of opportunity
  • “fairness”
  • societal productivity
  • societal waste
  • environmental impact
  • any others you find relevant
• Look for some resources, internet or not, that shed light on this issue. Share with the class references to those you found particularly useful if any.

The response needs to be at least 200 words

Answer 1

Free market capitalism is to governed by the economic principal of supply and demand where prices in the market are decided by the market itself.

Consumer and suppliers are important in free market system where they determine the costs and health of the market. There is very less government intervention.

Free market capitalism got both good and bad where

Pros: In free market capitalism nobody decides the prices the demand for the goods and service will decide it's price. People will get the goods for best prices. Products will be as efficient as possible due to competition in the market. Consumers are gained as they get quality product at a low price. Economic growth will take place which inturn makes the country to grow forward in business.

Cons : Business will think selfish where they will not care if people lack skills. There will be no opportunities for the people like children ,aged , disabled etc. There will no equal distribution of opportunity.

Capitalist will try to rig the system by using corruption. They try to evade taxes to earn income which will effect the distribution of wealth between people. Due to competition between they will try break rules by using different means sometimes even not considering environmental impact.

Resources will vanish which effects the social productivity as future generations will not have resources.

Alternative for this system there should be government intervention in free market capitalism. Government should intervene whenever required so that it will be a regulatory authority for this system.