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1UNIT 1 JOURNALUNIT 1 JOURNAL RESPONSEMONYETTA HAYNESWORTHCOLUMBIA SOUTHERN UNIVERSITY
2What is poverty?Poverty is defined by Merriam-Webster as, “the state of one who lacks a usual or sociallyacceptable amount of money or material possessions.”How well does the free-market system address poverty? How well does governmentalintervention address poverty?The free-market system is defined in Britannica as “an unregulated system of economicexchange, in which taxes, quality controls, quotas, tariffs, and other forms of centralizedeconomic interventions by government either do not exist or are minimal.” In the United States,companies are allowed to compete to provide consumers with a variety of products and services.There is no monopoly – even though it may appear to be that way with companies. The free-market system doesn’t do a very good job of addressing poverty because individuals that live ator below the poverty level are unable to afford the goods or services because the price(s) don’twork for their budget.

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Term
Winter
Professor
N/A
Tags
Capitalism, Poverty, Temporary Assistance for Needy Families

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