Tuesday, February 12, 2013

Market System

I mostly approve of the  current market system implemented in the USA. The concept of supple and demand provides the vast majority with items or services they desire, and the lure of profit has refined and improved many goods and services. Additionally, the market responds to our - the consumers - needs and can change to and adapt to our tastes or interests. However, the more out-for-the-profit mindset leads businesses to neglect needs that only a small portion of the population possesses. In this way, the market system of the USA is playing into an economic survival game which leaves the unfortunate few high and dry whose needs are specific and require funding and special manufacturing, such as rare medical conditions wherein research grants are not provided due to the scarcity of demand as compared to the abundant need from consumers with more common conditions. Yet, the USA has attempted to correct these oversights with government programs and funds; it is important to note that while this appears to be an altruistic decision, public opinion which advocates equal treatment means the USA might lose market demand if knowledge of their negligence is made widely known, signifying their actions are again motivated by profit, perhaps even the profit of public contentment.

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