MIXED ECONOMIES

Market and mixed economies

Market and mixed economies

The American free enterprise scheme emphasizes personal ownership. Private enterprises make most items and services, and nearly two-thirds of the nation's total financial yield proceeds to persons for individual use (the residual one-third is acquired by government and business). The buyer function is so large, in detail, that the territory is occasionally distinuished as having a "consumer economy."

This focus on personal ownership arises, in part, from American convictions about individual freedom. From the time the territory was conceived, Americans have dreaded unwarranted government power, and they have searched to restrict government's administration ...