Friday, September 21, 2012

Market Economies

           Market Economies have many advantages, like the ability to adapt to economic changes, how much freedom it gives individuals and businesses, as well as the limited government interference. All of these are characteristics I love about our economy because it allows individuals to succeed by their own doing. My Dad graduated college with a degree in electrical engineering, but ended finding his niche building the frame work for websites using a program called Site Core and owning his own business that specialized in that. Our market economy allowed my dad to adapt his skills in order to be successful. That I think is the greatest strength of our market economy, it allows individuals to take charge of their own life and become successful on their own without any serious interference from the government or out side sources. 
             Although there are many advantages there are also some disadvantages of having a Market Economy. A few disadvantages would be that not everyone's basic needs are being taken care of, workers can face uncertainty of success, and lastly a market economy can not provide enough services that people highly value. I think that the greatest disadvantage would be that some people get left in the dust and are not taken care of. I mean look at the growing homeless population especially here in Portland. Market economies make it so individuals can be successful, but it also makes it difficult for some people to be successful because it is hard to go out into the world unless you have a leg up, which some people don't have. When in a command economy every one is given equal opportunity but that opportunity is all the same, and everyone can only do the same thing. 
           So how can America fix that flaw in our Market Economy and help people who don't have a leg up get started, but do that without making every one else suffer or pay the less fortunate way?

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