The free enterprise system in the United States means that there is little to no governmental intervention when it comes to the commercial activities of the nation's citizen. Only a few restrictions regulate the market and the citizens business activities and ownership, the main regulator of the free market is the supply and demand relationship.
''From riches to rags'' is a common mentality in the USA - the free enterprise system suggest that anyone who is willing to work hard could set up their own business and be successful. This means you could pursue any type of job as long as you find a niche in the market. In reality not everyone starts out under the same conditions. Corruption and/or an influential background could influence your businesses success, as well as the increasingly tough competition.
While it is certainly an advantage that you are able to make you own choices over the way you spend you money and thus heighten the competition between businesses, which in turn means that prices are lowered and quality is raised, it has made the market tough.
The free enterprise system has induced massive economical growth, which means higher wages and an increased living standard, but it has also provoked the exploitation of workers to minimize production costs and the widening of the gap between the rich and the poor.
As there is no perfect economic system the free enterprise system certainly has it's downfalls, but in my opinion it is the most natural and efficient system.
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