- Feb 2021
Safra, L., Chevallier, C., & Sijilmassi, A. (2021). Poverty and Threat Reactivity. PsyArXiv. https://doi.org/10.31234/osf.io/fp35r
21st Century Economics (USA)
Economic Theory of a Market Economy, Characteristics, Pros, and Cons
Americans and the World believe or want to believe that the United States is built upon a Market Economy.
Historical context validates a classic Market Economy theory as directed by our Founding Fathers and Constitution. We clearly do not have a pure Market Economy today (2021).
- To Big to Fail - (Bailouts)
- Farm Subsidies
- Political Influence (money, lobbying, tenure)
- Government Agencies
- Military/Industrial Complex
- Federal Reserve (Central Banking)
- Social Security
Most Americans lump (through education) the concept of economics and government together, into 3 basic categories; Capitalism, Socialism and Communism.
The U.S. is a Capitalist Nation with a corresponding market economy.
Is this statement Fact or Hypothesis ?
Can we still rely on textbook economic models in the 21st Century?
- Jun 2020
Malhi, S. (2017, December 5). Policy shouldn’t rely on economic theory, but on data about actual human behavior [Text]. TheHill. https://thehill.com/opinion/finance/363245-policy-shouldnt-rely-on-economic-theory-but-on-data-about-actual-human
- Feb 2014
The innate qualities of intellectual pr operty, however, in combination with INTELLECTUAL PROPERTY: POLICY FOR INNOVATION 15 strong economic motivations have led U.S. intellectual property policy to operate according to rights - based, non - utilitarian theory, possibly as a result of lobbying (capture theory).
Lobbying has led to a rights-based non-utilitarian theory copyright policy in the US at the present time (2014).