Is America Still a Capitalist Society? The Case for Letting the Market Speak

Is America Still a Capitalist Society? The Case for Letting the Market Speak
The New York Stock Exchange at Wall Street in New York City, on Nov. 16, 2020. Angela Weiss/AFP via Getty Images
Jeff Carter
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Commentary
In theory, America is a capitalistic society. One beautiful part about capitalism is that everyone gets to participate. If you create value, you get rewarded for it. If you invent something new and create a lot of value, you get rewarded handsomely for your effort. However, the flip side of living in a capitalistic society is that there is failure. Not everyone is successful. Not everyone gets the brass ring. They don’t get rewarded even when they seemingly do the right things by getting the right degree and working hard. However, that’s usually because they aren’t creating unique value not found anywhere else. Cogs in machines don’t get rewarded.
Jeff Carter
Jeff Carter
Author
Jeff was an independent trader and member of the CME board, started Hyde Park Angels and West Loop Ventures in Chicago. He has an undergrad degree from the Gies College of Business at Illinois, and an MBA from Chicago Booth.
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