FREE ESSAY ON ETHICAL ECONOMICS?

ETHICAL ECONOMICS?

Nicholas Grosz
Mr. Burke
Econ 3/1/00
ETHICAL ECONOMICS?
The term ethical and economics should never be put into the same sentance. 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, comptetition, 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 eithical 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 regualted among the Factor market, households,
businesses, products, and the government.
The sytem 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 alotted 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. Adaption 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 themelves 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 ingorant. To say that America's economic system is fair and ethical,
would be an understatement. Living in an independant 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.