Economic System
I think the American Dream is lost, I think its not redistributing opportunity. We can call it a wealth gap you can call it an income gap it’s a huge issue
— Ray Dalio.
Economic System/Perception and Power Institution
Keeyante Griffin
Cascadia College
In the United States, the economic system is a mixed economy, meaning privately owned businesses’ and government both play important roles. Answer these questions and you got an economic system, 1.) What we will produce? 2.), How we will produce it? and 3.) Who gets it? Karl Marx was a German philosopher, who classified them as land, labor, and capital. GDP has four components Consumer spending, Business Spending, government spending, and net exports. Now considering all that and answering my question who does and does not have power in this institution, in the community? What is power based on?

I talked to Silas Aemmer, a Member Consultant Lead at Bothell Neighborhood Financial Center BECU, and we concluded that power in the economic system is all based on who has the most assets and can monopolize their assets and continue to supply the people with their demands. Aemmer used the example of Facebook’s CEO Mark Zuckerberg giving out your personal information from Facebook to third parties for money(https://www.cbsnews.com/news/facebook-your-personal-info-for-sale/) . In this economy, the ones in power are the rich even though they are only a small percentage of the American people.

Bhaskar Sunkara, the founding editor and publisher of Jacobin, said, “If you look at fortune 500 CEOs these people have tremendous say in our lives over what you can consume over how you work over the future of our country and they’re subject to no democratic mandate accountable to no one but their shareholders”(https://www.youtube.com/watch?v=BlrDpTGRREA) .In this way, the economic system is deeply flawed in the sense that it’s the corporations that get the benefit, not the workers. In Neil Postman’s book called “Amusing ourselves to Death,” he says “What is peculiar about such interposition of media is that their role in directing what we will see or know is so rarely noticed (11).” I bring this quote into play because the people in charge, the people with money are people who own Google, Facebook, Amazon, etc. They are the ones who control the internet, not the government. Americans are so content on blaming the government and their opposing political standpoint that they cannot take a step back and look at it differently. .

My lens is perception and perception can be described as a sensory bubble. Whatever room you’re sitting in, if you are indoors or outdoors, it doesn’t matter and you’re encased in your bubble of perception and that determines how you interact with reality (https://www.youtube.com/watch?v=8Jbvik4IA3o). Your phone places a huge role in creating perceptions in 2019. Who you follow and what you look at on your phone will change your perception of reality and your thoughts on people. Ronald Takaki, author of “A Different Mirror,” says, “How can diverse Americans become “one people?” I believe that one path towards becoming on people is for us to pursue the study of the past that includes all of us, making all of us feel connected to one another as “we the people,” working and living in a nation, founded and “dedicated” (to use Lincoln’s language) to the “proposition” that “all men are created equal”(59). This quote brings me back to my community partner Aemmer because he talked to me about socialism and how it could benefit the economy more than the free market because Americans should be structuring the economy towards the human need and not towards accumulating profit. Universal Healthcare, Federal Jobs guarantee higher than minimum wage, mass unionization of the workforce, and tuition-free university That is the goal of Democratic Socialism. Through a tax increase in America for Rich and middle class. If you go to Sweden, Norway, or Finland it’s not just the rich paying 50 to 60 percent taxes it’s also the middle class.

In the earlier years of American History, Thomas Paine’s taxed wealthy landowners to help pay for a basic income for all citizens over the 19th century these socialist principles incubated in labor unions and later flourished during the industrial revolution (https://www.youtube.com/watch?v=BlrDpTGRREA) . Darong Dai author of Economic Modeling argues that “economic institutions encouraging economic growth emerge when efficient political institutions are constructed and sufficiently enforced.” (https://www.sciencedirect.com/science/article/pii/S0264999313001429#!) Dai talks about the steps we can take to better our relationship with each other. Firstly, we show the necessary condition, which ensures group rationality of cooperation between the players. Secondly, we define what’s right and what’s wrong. Thirdly, we obtain the payoff distribution procedure of the cooperative game-based rules implicated in the first step and provided that the players agree to act according to an agreed-upon optimal principle, Finally, we establish the corresponding optimal economic growth rate conditional on the cooperative equilibrium solution.

At the end of the day, the only way the Economic system can get better is through a global feeling of helping each other and helping the planet. If not through democratic socialism then through something that gives you an incentive when you help your local community whether that be buying locally grown food, taking the bus instead of driving, buying American made stuff, or helping someone in need. If you do those things you get an incentive. The Dominion effect is another way to help the economy. Buying environmental resources like solar power or switching to a hybrid or electric cars can be beneficial in the long run plus the more you see of something the more you will compare in your head if you want to buy it or not. The one with the power is the consumer but through mass manipulation of the media the suppliers, like Amazon, have made things so convenient and easy it makes it seem like such a hassle to wait 2 weeks for something to be at your house or even going to the mall when I have next day shipping at my fingertips. Inflicting pleasures are stopping us from progressively moving forward if you want a change you need to stop buying from large corporations and find a local company to help.
References
Actualized.org. (2018, November 10). What Is Perception? – The Metaphysics Of Perception. Retrieved from https://www.youtube.com/watch?v=8Jbvik4IA3oCNBC. (2019, July 27). Why Democratic Socialism Is Gaining Popularity In The United States. Retrieved from https://www.youtube.com/watch?v=BlrDpTGRREACooperative economic growth. (2013, May 17). Retrieved from https://www.sciencedirect.com/science/article/pii/S0264999313001429#!Postman, N. (2007). Amusing ourselves to death. Upper Saddle River: Pearson Education.State, M. A. (2017, October 27). Government Power vs Economic Power (by Ludwig von Mises). Retrieved from https://www.youtube.com/watch?v=mYgIo16r02YTakaki, R. T. (2008). A different mirror: A history of multicultural America. Boston: Little-Brown.









