Key Idea

SS.12E.3: THE IMPACTS OF AMERICAN CAPITALISM IN A GLOBAL ECONOMY: There are various economic systems in the world. The United States operates within a mixed, free market economy characterized by competition and a limited role of government in economic affairs. Economic policy makers face considerable challenges within a capitalist system, including unemployment, inflation, poverty, and environmental impact. Globalization increases the complexity of these challenges significantly and has exerted strong and transformative effects on workers and entrepreneurs in the United States economy.