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krek1111 [17]
3 years ago
13

Were America's great industrial giants champions of free enterprise?

History
1 answer:
Serhud [2]3 years ago
5 0

Answer:

Explanation:

William Baumol, the 88-year-old shoo-in for a Nobel Prize in economics, has spent years understanding why and how capitalism works. The key ingredient, he says, is the risk taker, the person willing to gamble time and money on an unproven idea. Since 1900 the U.S. has enjoyed a boom in productivity and living standards unparalleled in human history. The central actor in that rise has been the entrepreneur, supported by the four pillars of free enterprise: the free flow of ideas, the free flow of capital, open and fair competition, and respect for property rights. "It is like a mechanical watch, where if one wheel is missing the whole thing stops," says Baumol. On the following pages we kick off a new series in which we profile entrepreneurs who are champions of each pillar. Paul Tierney puts money into capital-starved Africa, seeking above-average returns. Krisztina Holly speeds the flow of ideas out of her university so they can turn into businesses. Alan Miller is one of the staunchest advocates for private competition in health care. Web pirate Peter Sunde, an unlikely hero of property rights, has a new company helping digital creators get paid for their work. They're proving Baumol's economic theory every day.

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4 years ago
Write a two-paragraph essay discussing why you think the amendment process is easy or difficult. Which process for proposing an
BaLLatris [955]

Answer:

The amendment process is very difficult and time consuming: A proposed amendment must be passed by two-thirds of both houses of Congress, then ratified by the legislatures of three-fourths of the states. The ERA Amendment did not pass the necessary majority of state legislatures in the 1980s. Another option to start the amendment process is that two-thirds of the state legislatures could ask Congress to call a Constitutional Convention.

A new Constitutional Convention has never happened, but the idea has its backers. A retired federal judge, Malcolm R. Wilkey, called a few years ago for a new convention. "The Constitution has been corrupted by the system which has led to gridlock, too much influence by interest groups, and members of Congress who focus excessively on getting reelected," Wilkey said in a published series of lectures.

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3 years ago
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