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Dual Economic System In America Essay

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The concept of a dual economic system in democratic countries, especially the United States of America, often is misunderstood and unseen because many Americans associate this country with the core of capitalist ideology. However, the inclusion of socialistic elements outweighs those of the capitalistic elements in our nation. In the past fifty years, industry and business, in general, have been one of the greatest targets of the U.S. Government, including the IRS. The proof that we are very “progressively” socialist is given that we have the highest tax rate of among all other democratic nations in the world ranging between 35% to 38%. The idea that these private companies’ wealth and assets belong to the government and its people is evermore eminent with the mainstream American populous. Socialism is squirming into our once heavily ingrained capitalist nation because the majority of people are more dependent on its state than in any other point in American history. …show more content…

They include the following: free-enterprise (laissez-faire) which gives citizens of a nation the freedom to conduct business and any ways of attaining wealth in any fashion they wish to do so without governmental interference; the right to private property with little to no limitation as to how much land one may own or how that person may utilize that land or property; personal freedom (individualism). This sentimental concession of a particular individual liberty serves as a catalyst for the flourishment of a genuine capitalistic economy. Personal freedoms of all kinds allows the capitalist (whether successful or failing) to be more inventive, innovative (positively or negatively), stern, and disciplined. These are the three main elements of an economic system of

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