- Feb 2021
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?
- Dec 2019
Made in China 2025, Beijing has designs to dominate cutting-edge technologies like advanced microchips, artificial intelligence and electric cars, among many others, in a decade