Japan vs. US economy
Date Submitted: 02/19/2003 03:32:05
Category: / Law & Government / Government & Politics
Length: 3 pages (957 words)
Category: / Law & Government / Government & Politics
Length: 3 pages (957 words)
The primary purpose of the economic activity is to benefit consumer while maximizing wealth creation; while the distribution of that wealth is of secondary importance.
1. U.S economy is approaching Neoclassical model in which individuals are assumed to maximize their own private interest, and business enterprise are expected to maximize profits which result in a powerful proconsumption bias and insensitivity to the social welfare impact of economic activities.
- market are competitive and competition should …
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