Anonymous
Anonymous asked in Politics & GovernmentGovernment · 9 years ago

what kind of economic system does the united states constitution establish for the united states?

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  • 9 years ago

    none.....

    the U.S. constitution speaks only of human rights, citizens rights and the relationship and responsibilities split between states and the federal govt.

    Technically speaking, whether socialism or some quasi socialistic economy develops is up to the citizens of the country...in other words by way of the ballot box, they can vote for representatives who make laws that simply represent how they want things to be. If what they want is things like medicare, medicaid, unemployment insurance, social security adminstration, welfare, highly progressive federal tax code, etc...then thats what they can have. There is nothing at all unconstitutional about the people wanting their representatives to give them what they think is the best economic system. Of course, I am painting a realistic and moderate picture. People who oppose "We the people" type legislation typically try to demonize this by calling some of the things I mentioned above as socialism or communism trying to stir fear..... I am sure there are somethings which can go to far. For example if a law was passed saying that no one could make more than $100,000 a year...and that anything they make over that is taxable, then that is overeaching by govt, but a top marginal tax rate that says that any income over $3 million a year is 50% or 70% taxable is reasonable....as it still allows people who do well to get rich, just not super super rich. From the very beginning the USA was a mixed bag of free enterprise and socialism. Socialism is defined of course as things being decided for the good of the community....like bridge building, public schools, water sources, etc.... The USA was never a free for all anarchic society as some want us to believe. In fact, many of the fouding fathers believed in something called the social contract as the main justification of govt in the first place.

  • 9 years ago

    The constitution has nothing to say about establishing and economic system for the country. The constitution deals with how the GOVERNMENT of the country operates and nothing else.

    I would suggest that you actually read the constitution for yourself. It isn't long, nor does it use overly technical or legal language that is hard to understand.

  • 9 years ago

    None.

    However, it does protect our individual liberties, which is the basis of Capitalism.

    Socialism is defined by the existence of a powerful central government and minimum individual liberty, which is illegal according to the Constitution.

    So, although the Constitution does not say the word "capitalism", it clearly protects individual liberty and restricts government powers, which is pretty much the definition of Capitalism.

  • Anonymous
    9 years ago

    Free-market economy.

    Source(s): USC.
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  • American economy is based on "free market" ... according to Federal Reserve Chairman.

  • Anonymous
    9 years ago

    A CAPITALISTIC DEMAND ECONOMY WITH A FREE MARKET

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