Question

are markets with minimal governemrny a good way to create and allocate wealth? How do you see your personal economic prospects in a pure market economy with no rules versus one with some government policies? Do you believe the current state of the US economy will make you better off than your parents? Does the Us economy provide quality of opportunity to its citizens?

Answer 1

Markets with minimal governary is good to create wealth but allocation of wealth will not be optimal if the market has got all the freedom.a pure market economy with no rules encourages entrepreneurs to create more wealth, but it also encourages more unequal distribution of wealth, few richer person holds the maximum wealth of a nation so jt encourages exploitation of poor. So some amount of government intervention is always necessary to maintain a balance between the rich and poor and to equally distribute wealth in the nation. The current state of the US economy will make our lives better than our parents because it gives more exposure in different fields. The education and health system is better than before, also the policy measures taken by the government are in favour of the new generations so it will definitely make life better.