Is the Free Market Central to America's Future?
From: Carnegie Council
Series: Global Ethics Corner
Length: 01:30
Created and managed by Carnegie Council Senior Program Director and Senior Fellow William Vocke, Global Ethics Corner is a weekly 90-second segment devoted to newsworthy ethical issues.
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Piece Description
Created and managed by Carnegie Council Senior Program Director and Senior Fellow William Vocke, Global Ethics Corner is a weekly 90-second segment devoted to newsworthy ethical issues.
Transcript
In Foreign Affairs, Ian Bremmer states, "Until very recently New York City was the world's financial capital. It no longer is even the financial capital of the United States. That distinction now falls to Washington..."
Most Americans see this government intervention as necessary, and many hope that this intervention will ebb as the economy rebounds. Some also see this as an opportunity to redress health care, income distribution, or environment issues.
First, should state capitalism in America exit as soon as possible? George Will's op-ed states it should but unfortunately won't.
Second, Bremmer sees this tide of intervention in the developing world as "signaling a strategic rejection of free-market doctrine." "(T)he free-market tide has now receded." "(S)tate capitalism has introduced massive inefficiencies into global markets and injected populist politics..."
Therefore, the under...
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