Page 33 - Workbook3E

American Capitalism Straight Ahead
Why the Success?
During its first 200 years, America emerged from a primitive wilderness to a nation now producing one sixth of the world’s goods and services. Historically, no other nation has ever achieved such success. But America’s success can’t be credited to unusual resources or attributed to a unique breed of people...similar resources are found throughout the world and the people of America are races of all nations.
In fact, you’ll discover the success comes from the genius of the free enterprise system and how it encourages millions of Americans to be responsible capitalists and stewards. America’s vast financial achievements stem from this great system.
The Free Enterprise System
America is the biggest economic power in the world today. You have all the natural resources, economic powers, and financial tools needed to provide goods and services to a global market. The only limitations holding you back are capital, raw materials, knowledge, industry, competition, and the moral guidelines of honorable citizenship.
The core of this model is the free enterprise system. It’s a system sup- ported by an environment of free trade. In this environment of a free society, the free enterprise system has blossomed and flourished through the genius of responsible capitalism.
Private Property
Private property is one of the leading characteristics of a free society. However, its ownership is fragile. Throughout history, disputes have raged over the issue of land ownership—private ownership versus public ownership. Sometimes this debate has grown so heated, nations and even families have battled each other. These destructive conflicts have caused the legal system in every developed county to enact regulations for standardized ownership of real estate.
These laws and regulations governing land ownership have in great part, fostered the political economies of the free western world. These laws define land ownership, protect the rights of landowners, and penalize those criminals guilty of illegal land dealings.
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply.”
~ Ralph Waldo Emerson
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