Ethics And Economics Essay, Research Paper

The term ethical and economics should never be put into the same sentence. They

are almost oxymoronic in the sense that in order for one to succeed on an

economic level, ethics are usually never involved. America as we have come to

know it is a world full of mice and snakes. The mice are those in society who

voluntarily choose to live off of the prosperous, as the snakes go out and get

their prey. The capitalistic society we live in known as America is truly what

we make of it. The standards and principles of America’s capitalism are truly

ethical and fair. One is reminded of the Darwinian theory of evolution that only

the strong survive. Those who do not provide for themselves will be left to

"die" in American society. The American economic society that we have

come to know and love is truly fair and equal on all levels. Since the end of

Feudalism, America has lived up to it’s reputation as a Capitalistic society.

The True Market System kick-started the freedom of possibilities of capitalism.

The right to private property, choice, voluntary exchange, competition, and

economic incentives are what we thrive towards every day. With the incorporation

of voluntary exchange and competition, American’s were forced to go out into the

world and produce in order to survive and make a profit, much different than

traditional economics when a child would inherit his father’s work. Economic

Incentives, better known as profit, lead to a broader array of choices that we

are able to make as free-minded Americans. The comparison between Socialist and

Free Market economies show us how truly ethical and fair America’s economic

system truly is. Resources in a Socialistic Economic system are government owned

and regulated, which in turn, the government determines what and how much of

"what" will be produced. The capital from the government owned goods

is then distributed among the general population, thus totally eliminating

inequality and Capitalism. So no matter how talented/gifted one is, he is just

as valuable to his family and friends as the guy that makes my French Fries at

McDonald’s. A wide disparity exists among people in the United States. Our free

market economy provides us with the ability to prosper and soar above our

competitors. Resources are privately owned which clears the way for voluntary

exchange. The role of the government in America’s Free Market economy is to help

ensure that everything runs smoothly with minimal interference. The fair

economic system that we live in provides for a wide disparity among the rich and

the poor, which in turn provides for a better trade market among the customer

and consumer. The circular flow model is a perfect example as to how the

American economic system flows among different levels in society. Land, labor,

and capital are equally distributed and fairly regulated among the Factor

market, households, businesses, products, and the government. The system of

Economics in the United States of America is balanced and geared towards the

citizen, not the government. Hamilton’s development of the U.S. Economic system

served as a blueprint for America to follow for the coming years. The national

bank, taxes, debt, and loans are all perfect examples of how the people choose

their own paths in life. They were/are responsible for their finances, rather

than allowing them to be regulated by the government. The incorporation of

Specialization allowed for a more service oriented society. Those who are

qualified to perform a certain task are able to thrive in America’s economic

system. Absolute advantage and monopolies play a huge role in free market

economics, allowing the seller to control his/her own destiny. The widespread

availability of goods allotted the customer to shop around. The disparity of

prices among the buyer and seller are constantly being regulated by Adam Smith’s

theory of the Invisible Hand-the idea that prices are automatically regulated

among sellers and consumers from a supply and demand standpoint. America’s truly

Capitalistic nature is thrown into question by the alarming difference between

the have’s and the have not’s. The status quo in U.S. economics is quite

off-balance, but no one is to blame for it. Darwin’s theory of evolution again

comes into play. Adoption in such a case as our financial imbalance is not an

option. Poverty among single parents is steadily on the rise. However, the

choices that they make like unprotected premarital sex are totally up to it’s

participants. 66.6% of poverty-stricken people are single parents. The Free

Trade economic system in which we live provided these people with the resources

and opportunities to prosper. Because these people are financially unable to

educate themselves at a higher level, is no one’s fault but their own. People

have the ability to choose their own paths in the walk of life, nobody is

forcing anyone to be ignorant. To say that America’s economic system is fair and

ethical, would be an understatement. Living in an independent country full of

freedoms and choices, we are more than apt to provide for ourselves. The chances

for prosperity are out there at arm’s reach, some people are just too lazy to

get up and take care of business.