The United States has become more free economically speaking because of the advancements within the use of technology in regard to information as well as the expanded education on the financial industry. The newest generation entering the workforce have a spirit of preparation for the future. Despite the immense debts incurred by the heightened importance placed upon higher education and therefore school debt, individuals are aware of the economic freedom that is available but also the limitations of this freedom. The free market is integral to the pillars of a Capitalist nation. The banking industry has seen a bit of a reputation swirl. Harsh criticism upon debts and leveraged spending have stigmatized this industry. As we have seen in the early-mid 2000's housing spike, debt can stimulate the economy as well as shake it.
Debt leveraging can allow for eventual expansion. For example, going into debt calls about debtors to pay with interest. The interest is the growth of the financiers. By increasing spending, one fuel the economy, which should therefore also result in greater GDP and thus higher tax revenue for the government, which it can use to service this incremental debt. Meanwhile, it will have also incrementally increases the wealth of the nation through this increased demand.
So that ultimately, the debt can help grow the economy. What it therefore comes down to is: does the economic growth that is expected to be generated through this increased spending exceed and therefore warrant incurring the debt?
If the answer is yes, it is helpful to spend and incur that debt
The information revolution frames the free-enterprise system to allow accessible economic growth. In order to achieve success within a Capitalist economy, one must rise to the level of the most aggressive and proficient competitors. The internet has made forums for business markets, information on expansion, advertising and marketing attainable to any potential proprietor or business owner. Essentially the individual becomes an entity that can compete using tools that have no limits across social and economic boundaries. Free-enterprise has been immensely bolstered by the information revolution because of the non-discriminatory reachability that the internet provides to individuals and corporations. Smaller corporations have the ability to grow and trade in the public market in order to stimulate larger samples of the economy based on this new accessibility. Any person may utilize the same information made public, target specific demographics across the world in seconds because of this positive advancements have come to businesses, however some disadvantages may include the transformation of how business is done. Less personalized and mechanical approach create a swiftness that could hinder the quality of the business. But checks and balances to the infinite space for top competitors to weed out and surpass others. The information revolution has stimulated competition to an intensity that cultivates a thirst for growth and superiority.
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