The Dominant Framworks of American Way of Life Pt1

The Dominant Frameworks of the American Way of Life is a mix of capitalism and the government working together which networks how people live and decisions. One of the frameworks that I will be talking about is capitalism. Capitalism is an economic system that consists of private ownership of wealth, profit motive (making money), and producing products/goods and sell those goods in the free market. The "invisible hand" (the way in which how market competitions and self-interests would create situation that organizes and benefit society) sort of helps controls the market so that everything would somehow work and everything would flow. Free market is where people go get profit and putting investments and having their own companies with selling, buying, and trading (Globalization). Three aspects that we use to show how capitalism works are Land (is the raw materials that we use to make the products), Labor (is all the work necessarily to sell, distribute and produce) and Capital (is the factory, machinery, companies who get the profit) we can see how capitalism work in a way that makes everything united in a way.
We are all in the same boat, but working in different levels but in the end everybody's knowledge of "things" (also combing with their own interests or "greed" to make money) would benefit everybody to make the whole boat working. The people also get a chance or chances to go from "rags to riches" or upward mobility, making them able to become monopolies, natural monopolies, monopsonies or getting a company of their own and getting profit for themselves. In capitalism, there is also economics involve in the free markets = lots of commodities (something that can be bought and sold in the market place or perfectly substituable) and competition. The good thing about the competition is that if a lot of people are competing in one thing then prices would go down which means people can afford the price better than before. "The virtue of free enterprise capitalism is that it sets one businessman against another and it’s a most effective device for control." (Brian Doherty, "Quotations From Chairman Milton" http://www.reason.com/news/show/118175.html). Having the market to be control is a good thing using capitalism because it will keep the capitalists away from having too much power or else the smaller businesses would go down or bankrupt. This quote is agreeing how if businesses if fighting/competing agains other businesses than in the end there won't be just one business that have a lot of powers.
There is not much government interferences in capitalism which makes it a good thing since people don't like the government interfering the market or surpluses and low shortages can happened. One of the important things about the economics in capitalism is the Supply (the availability for sale of a commodity of all prices) and Demand (the amount purchase of a commodity at all price) which helps the sellers or the market to know the right prices to sell at and get good profit.
History is involved with capitalism too because around 1700, capitalism was introduce to Netherlands, Great Britain, the United States and then the rest of the world making a huge "wealth explosion" said by historian Steven Davies. It helped "secure[s] private property, the rule of law, open markets, and economic freedom generally — or what Adam Smith called “peace, easy taxes, and a tolerable administration of justice.' Capitalism has made the West rich and thus healthier and longer-lived. It could do the same for Africa, Asia, and the Arab world" (David Boaz, "Capitalism Saves", http://www.cato-at-liberty.org/2006/07/29/capitalism-saves/). The whole essay gives a positive tone about how capitalism is a good thing and even the title "Capitalism Saves" says what the whole essay is going to be about that Capitalism does save people. After capitalism was introduced, the countries who used capitalism had made themselves more richer and in a case, able to let people become more "healthier" and live longer. I agree with what David Boaz said because if we are able to do what we want in the market/capitalism way with some kind of limit because there is limit to what one can do then it makes our lives better. Well...if the person/people actually made themselves richer. I also agree that capitalism should be introduce to other parts of the world like "Africa, Asia, and the Arab world" because I think they might need more money, more capitalism to make their countries more control and stable. Since capitalism makes us live healthier and live longer, I think it is a good thing that America does uses capitalism and how the markets are going freely with the "invisible hand" makes the whole thing (I guess the country, benefits people, more profit) better.
Everybody work hard to get to where they want and capitalism is one of those ways they can do that because they are free if they are in capitalism to decide what to do. They get their own wealth and there are no limited.