Socialism in The United States - Essay Example

This highlights the merit of the individual as a pillar of the economy, thus, leading to civil liberties which are the very foundations of democracy. 1 Change is deemed a necessity, the nature of man is inherently ever-changing. Wealth is sometimes concentrated to a small percentage of society. Carnegie talks of fortune in essence and how to allocate the surplus in fortune among individuals. He proposes that one, they can bequeath it as inheritance, two, they can donate it to be used for public good or three, the wealthy can oversee it while they are alive.

2 The unnecessary concentration of wealth to one man or family can be made more beneficial if such possessions be disseminated for the advantage of a larger population. Such should be used for public benefits wherein the population will garner the primary good. It should be a duty of those who are well-off to be philanthropists and give back to the community and establish programs that will help them in a lasting way. This should be inherent among them for they are the ones who are with the resources to do so.

It should come as an intrinsic obligation. The value of giving back and responsibility should be conferred its due importance as they are first and foremost citizens of the nation and should help in nation-building.3 The United States of America gives attention to providing opportunity to the population in general, granting equal chance to everyone. This, as David Potter articulates, is the only economic policy that remains constant regardless of time and circumstance within the United States.

The 1930’s introduced a new outlook on the dynamics of the economy, laissez faire ideas were adapted. But this was merely a verification that the objectives of democracy outweigh all economic ideologies the nation is in pursuit of, had it not work, they would have turned into something else. 4 Adam Smith contends that preference for locally produced goods and giving support to the