Capitalism has allowed the economy of the United States to become one of the strongest in the world. The United States, with our capitalist economy, has been able to create amazing growth and prosperity for many of its citizens. It has allowed for historic innovations and provided global economic stability. Sometimes though, due to our explosive innovation, our government has to catch-up with our entrepreneurial achievements. This has been evidenced from the beginning of our nation, but was most obvious during the Industrial Revolution, where new factory owners exploited workers in order to gain extraordinary wealth. Our government eventually intervened to counter those injustices and health risks by requiring factory inspections, limiting child labor, meat processing inspection, and work safety requirements, to name a few.
While our capitalist system has allowed us to create amazing new technology, we are now at another critical moment in history due to those same innovations. Our current economic situation is changing rapidly. So today, like in the late 1800’s and early 1900’s, our government needs to take actions that benefit workers and consumers. It is time for an adjustment.