McConnell_Brue_Chapter02

To comprehend exactly what he was attempting to

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Unformatted text preview: ibe, it is important to put ourselves in place to view the situation from his perspective. He was observing an experiment. This new nation had decided to let freedom be their guide in terms of religious choices, choices of behavior, and choices of economic activity. The world had not known of such a system, at least it terms of recorded history. He was attempting to describe a process that functioned in what he perceived to be awesome ways. Although we are fairly certain that diminished forms of market systems existed prior to the formation of the American system, we also know that these market systems were limited in their function because property and resources were most often owned by either a ruling class (Royalty) or a system dominated by military rulers. It further stands to reason that the dominant leadership in any given country would move to diminish the power and influence of anyone who gained too much material benefit from market processes. This was not the case in the United States and as suc...
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