Free-market capitalism-central-planning communism

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Reference no: EM131414549

Where is the U.S.? Evaluating the U.S. System Relative to Free-Market Capitalism and "Central Planning." At its inception, the U.S. was established as a free-market, capitalistic system. If you were to create a continuum (horizontal line) with two extremes—“Free-Market Capitalism” on the left and “Central-Planning Communism” on the right—the U.S. was founded quite extremely on the left of that continuum. Over the years, our country’s economic system has shifted right to some degree as indicated by increased government regulation of certain industries, government and/or monopolies on a few industries, and increased public payments/program (social security, medicare/medicaid, welfare, etc.). Take a pencil and make a continuum; on the left end write "Free-Market Capitalism" and one the right end write "Central-Planning Communism." Place a zero in the center of the line; in and around the zero would indicate a Socialistic economic system where vital industries are owned/controlled by the government. Then mark intervals of one through 10 on each side of the zeroes so that ten is the most extreme number on the continuum in each direction. Mark an "X" on the line to indicate where you think the U.S. currently is as an economic system. State the number and side of the continuum on which you've placed the "X" and explain why. Now place a "Y" on the line to indicate where you think the U.S. will likely be 20 years from now. State the number and side of the continuum on which you've placed the "Y" and explain why in your discussion post.

Reference no: EM131414549

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