Many people will say it is the market economy, or the way the economy operates here (free market economy).
Business is everything in the US, and everything is business. Almost every service is provided by “for profit” companies, and many people would want to privatize the others as well.
Privatize everything, and reduce the size of the goverment as much as possible. It is the American way, isnt’ it?
At least this is what many Americans think. Less taxes, smaller goverment, less regulations, etc. They would prefer no goverment at all, if it was an option. I wonder if they miss the days of the wild west.
Newsflash to those who think this way. They may or may not realize, but what they are asking for is an environment where jungle law reigns. Humanity learned to get away from that, and form some sort of government structure that will provide some degree of justice and protection thousands of years ago. Do we really want to go back to the times before that?
If they have their way, they will also privatize social security, which they have been trying to do, and get rid of medicare and medicaid as well.
Privitizing everthing isn’t the answer, and that is not what made America great, contrary to what most of these people think.
Part of what made America great was equal opportunity, which came from it being an undiscovered and unsettled country. Lack of goverment was a consequence of this, not the reason for its success.
But the main reason that made America great was not even the opportunities here in my opinion. It was the fact that United States ended up on the winning side of two major world wars. That was the reason. And part of the reason for that was luck, the way I see it. US entered World War I at the last minute, on the winning side, and didn’t even fight much. Similar with World War II.
By the time US was forced to enter the war, the major powers of the time had already destroyed each other. When US entered the war, it changed the balance of power in the Allied forces’ favor, and ended up on the winning side of the war, again. When the dust settled, there were only 2 major powers left in the world, the US, and the Soviets. And the rest is the cold war, and today’s world.
Throughout history, major powers of any time period are usually determined by the outcome of major wars. And it was no different in the 20th century. And that is the true source of American power and greatness. Winning wars lets you control the trade routes, and sign economically favorable international treaties, etc. And the rest is easy.
So the source of the US power was not the way US implemented the capitalist economic system in my opinion, but the socioeconomic and geopolitical state of the world, shaped by major wars.
So, the people who think US owes its power to the way it implemented a more extreme version of free market economy are mistaken in my opinion. Yes, free market economies work more efficiently, in the creation of wealth and economic power compared to the socialist economies, I am not disputing that fact, but what I am saying is that it is not the whole story. When you have a market economy as opposed to a socialist one, making it more extreme versus less will have negligible effect in the amount of economic power and wealth creation in my opinion. And the amount of wealth is not the ultimate measure either, it is also important how that wealth is distributed. More important than wealth is the happiness of the population. And that can be achieved better with less extreme market economy, with social policies, anti-trust measures, regulations and other means to provide more equal opportunity to the public.