In an earlier article I suggested that we are in a global economic system with four different systems. My suggestion was that each system has its own set of principles and political traditions. However, even though there are many variations in political systems, there are some general similarities. When you start to analyze which type of economic system does the US have, you should keep this general outline in mind.
First, I would say that the US is a constitutional republic system based on the decentralization of power. Each state is allowed to choose its leaders according to the constitution, with the national legislature performing oversight to prevent abuse of power. This system gives each state a great deal of autonomy, and the checks and balances that are part of our political system make it difficult for major political factions to gain absolute power over the masses.
Next, I would define for you our current political system as a constitutional monarchy. Our national government consists of a national legislature, which elects members of the national government from the states, and then uses this system to regulate the economy. The national government also supervises private organizations through regulatory bodies such as the SEC, and the CFTC. In addition, the US government controls major foreign currency exchange rates, and intervention in the affairs of other countries through the United Nations. This system has the advantage of allowing the governed to protect their economies against outside threats and allows them to become more efficient and save money for the common good.
Finally, I would submit that our current economic system is a fiat monetary system, which is designed to provide enough economic stability to the citizens without the government growing out of control. Fiat money is issued by governments through various forms of currency, which are usually derived from a particular nation's currency. This form of money usually circulates throughout the countries and is normally recognized the world over. This system has allowed nations to grow and mature without drastic political or economic changes.
However, with the advent of the fiat monetary system, the US government began regulating the economy via regulation and taxation. The result has been an ever-increasing debt and stagnating economic growth. This has caused a great degree of discontent among citizens who have lost confidence in their national government. Citizens are demanding leaders and an end to inflation, excessive taxation, and the political whims of the federal government. These citizens wish to use the system to protect their economic interests, and eliminate the defects of the fiat monetary system.
There are two major types of political systems that we have today. Which one do you think would best serve the American people? Do you think the failed political system or the successful economic system would you rather serve? Please consider all this.
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