Do you support this kind of economic system?
I definitely support a market economy. I believe the benefits associated with this type of system far outweigh the minor disadvantages. However, the United States is not a true market economy. Our economy is slowly edging away from a market system. Our government provides extensive support to the poor, the unemployed, students, and the elderly through programs such as Welfare, Unemployment benefits, Financial Aid for college, public education, and Medicare. Healthcare has also been socialized under Obama's presidency (Obamacare). I strongly disagree with most of these programs, healthcare especially.
I grew up with entrepreneurial parents and watched my dad open several businesses over the years. While he failed several times, he never stopped trying and is now an incredibly successful business owner. I also own a very successful graphic design business on my own. The economic system in the United States has allowed this. In countries with true command economies, entrepreneurship is simply not possible. But as I mentioned before, I think the US is starting to move away from a market-esque economy. The United States was once the most revered country in the world. We had a unique economic system that provided unlimited opportunity - the idea of the "American Dream." With the addition of universal healthcare and easily handing out Welfare, opportunities in this country are dwindling. I believe that reverting to a true, or just truer, market economy would undoubtedly revive the US economy.
