Private Ownership In The United States

The United States is thought to have a mixed economy since privately owned companies and government both play significant roles. Indeed, some of the most enduring discussions of American economic history center on the relation of the public and private areas. The American free enterprise system highlights private ownership. Private businesses create most merchandises and services, and practically two-thirds of the nation's total economic output goes to people for individual use (the lasting one-third is bought by government and commercial businesses). The consumer role is so great, that the country is occasionally branded as having a "consumer economy." This emphasis on private ownership rises, in part, from American views about personal liberty. …show more content…
There are restrictions to free enterprise, however. Americans have always thought that some services are better done by public rather than private enterprise. For example, in the United States, government is mainly accountable for the administration of justice, schooling, the road arrangement, community statistical reporting, and national protection. In addition, the government often is asked to arbitrate in the economy to correct circumstances in which the price system does not work. It controls "natural monopolies," for example, and it uses antitrust rules to switch or breakdown other business groupings that become so powerful that they can conquer market forces. Government also talks issues beyond the reach of market