American Capitalism And The Economic System

1324 Words6 Pages
Wealthy disparity in America is greater than it has ever been, yet nothing seems to be done by the government to fix it. Bridging the wealth gap in America would require government regulation from government, but the American government is controlled by the wealthy. Rich business owners give large sums of money towards political campaigns, thus gaining them political favor. Along with a corrupted government, large corporations have taken up almost all market share in their respective industries, not allowing for small business to thrive. And, low-level workers at said corporations are treated unfairly and not allowed to unionize. With the wealthy controlling the government, big businesses dominating the economy, and workings being denied their rights, the American capitalist economic system makes it very difficult, if not impossible, for the impoverished to escape poverty. Capitalism is the best of the economic systems because it promotes innovation, productivity, and progress. But the American version of capitalism that exists today does the exact opposite. American capitalism promotes stagnation or even regression because it is hard for an economy or a country to thrive when a small group of people hold so much wealth. Capitalism by definition is: “an economic system characterized by… prices, production, and the distribution of goods that are determined mainly by competition in a free market” (Webster). Competition in a free market, according to economics, will result in
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