The Patriot Times
Randall Rinehart
Jack Kemp previously announced, “There's no limit to what free men and free women in a free market with free enterprise can accomplish when people are free to follow their dream.” With a free market system, citizens are able to accomplish their objectives productively. This has affected an immeasurable amount of citizens, and has been beneficial to them, whether they own a business or not.
The free market system in the United States administers less restrictions to the citizens, granting them the qualifications to go further and higher in society. With the free market system, the citizens are able to choose the price and supply of the goods or services they contribute. In the absence of this powerful system, the government resolves the price and availability of goods and services, and they would also have complete control over everything that happens. I believe that the free enterprise system is one of the most practical economic system that exists in, and I also regard it as a superior system to other options.
This system has directly affected me, as my mother owns a small business, where she bakes and ices sugar cookies. As we are used to the free market system, this most likely does not seem particularly out of the ordinary. However, my mom has the free market system to thank for her privileges. She is able to decide if she accepts an order or not, what the price of each cookie is, and, most importantly, she can run her business with practically no government management whatsoever!
I agree with Jack Kemp, that there is no limit to what we can do in the free market system. This system has been incredibly helpful to me, as it allows my mother to run her business. It has definitely affected everyone in our society, whether they are owners of large business, owners of small businesses, or citizens who don’t own any business.
Breanna Bolle
Jamie Dimon formerly declared, ”I think the free enterprise system has been great for society. That doesn’t mean it’s completely perfect.” One disadvantage of the free enterprise system is that with economic growth in a socialist economy, a citizen with little access to social services might have a difficult time reaching their professional goals. Although not perfect, the free enterprise system is exceedingly effective and promotes innovation as well as fostering economic freedom.
Free trade spurs innovation. The U.S. market has demonstrated repeatedly, particularly over the last decade, that competition leads to increasing innovation. This is evident, for example, in the intense competition to create the latest personal computer at the lowest cost. With the growth of electronic commerce has come unlimited choices of goods and services and lower prices for products. In fact, America's greatest advantage lies in its ability to innovate and to build upon that continually expanding knowledge base. This resource results in an ever-growing number of new products and services that bolster America's competitive advantage in the global market and greater prosperity at home.
The ability to trade freely increases opportunity, choices, and standards of living. Countries with the freest economies today generally have adopted a capitalist model of economic development, remaining open to international trade and investment. Once while picking a camera, I was able to choose which camera fit my needs the most, and not only have one choice. I was also able to gain as an end result of the cheapest price, instead of only shopping in one place for it.
The free enterprise system of the U.S. is powerful, promotes innovation, and encourages economic freedom. If the U.S. had not possessed the free enterprise system, citizens would not nearly have the amount of freedom as we do today in personal business and competition. Jamie Dimon’s statement is accurate, although the free enterprise system has been substantial for society, it is imperfect.
