It’s just another paradox in economics. Why is free enterprise, the very
foundation of the Untied States economy, going to destroy its self? Noble prize
wining economist, Professor Joseph Stieglitz made a simple statement, which caught
my attention. It reminded me of my mother who could explain the most complex
things in shockingly few words. He said something along the lines of, the only thing wrong with competition is
that it limits profits.
When one encounters a paradox, reexamine the premise, and you will see your paradox disappear: America does not truly have free enterprise.
ReplyDeleteI agree with your comments; America does not have a totally free enterprise system. The economist made his tongue in cheek comments in reference to individual greed. In other words, he was being sarcastic. He was saying those in competition for the last dollar are angry that someone else is preventing them from having it all, which means you, I and the economist agree.
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