What economic system does the US have? That's a question I have asked a lot of folks and most of them have either not answered or have explained the US economic system in only four words or less. So, what do they say? “The US is an Open Door Society”
That might be if we took it that way. The reality of life in the US is more like a closed door, but not really. One of the most popular theories on why the US is an Open Door Society is the idea of Open Markets. Of course, in the US those markets don't open all the time. So, it's not really an open door.
And that brings me to the US economic system being the best one in the world. Some might debate this. But, look at all the people who have come over here. If you analyze the whole globe, you will find very few who have come here and yet all of them have prospered and are incredibly successful and they've all mastered the systems and the economies and they all understand what the US system preaches.
What system? The one that teaches you to buy when the prices are low and sell when the prices are high. That's the kind of system they're teaching. And, unlike most civilizations, ours didn't collapse because of lack of money. There is no such thing as a lack of money in America, our culture or our economy.
Now then, about the question, what does the US have? A civilization of entrepreneurs and small businesses. A civilization that has allowed its people to develop the ideas and values of freedom and prosperity. A civilization that has attracted the best and brightest from around the world to our shores and brought them here. That's what we have.
So, the next time someone asks me, what does the US have? Just think of it, and tell me if I'm wrong. Please consider all this and think on it. Perhaps you will be enlightened.
An academic at George Washington University recently did a study of over 1.000 economists from all over the world and asked them the same question. They were asked, What is the US currently doing economically? International comparisons were made and the US came out well. Economic freedom was ranked first, free enterprise ranked second and government regulation ranked somewhere between last place and first place.
Does all this sound familiar? It should if you understand the international business scene. The US is a very powerful nation. We are not an aggressive nation. We like to think that we are the beneficiary of other cultures and openness, but when it comes to our own business, the US has been getting pretty good at it.
Our economic system is based on capitalism and free enterprise. This allows us to attract the best and brightest from around the world to us. It also allows us to make sure that the people who do those jobs are actually paid fairly. In this way, the US is unique in the history of mankind and certainly among the most powerful civilizations that have ever existed.
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