Hypocrisy in Economic Potential

The chapter we had to read for class last week had to do with the economic revolution that ocurred as part of the American Revolution. During this time period of resistance and independence, the United States was preparing themselves to have a strong free market system. Up until the 1700s it was just assumed that mercantilism was the most effective market system out there because of Great Britain's success with it. However, with the publishing of Adam's Smith The Wealth of Nations, the founding fathers were given a different perspective. Though, none of the founding fathers advocated outright a switch to a free market system, the turn of events perpetuated the switch.

This was significant in America because it gave all an opportunity to make their own wealth without the hand of the government making every decision. People were allowed to work selfishly, for their own benefit because it actually benefitted the nation. Now, I am a pretty solid advocate for a free market system, but it is interesting to note that when the free market economy first came to the United States, it had many restrictions; not on business policy, but rather social restrictions.

Though people were allowed to work in whatever field they wanted to, making or selling what they wished, the definition of people was firmly defined as white men. Before and even after the Civil War, it was impossible for a black man to find the same kind of opportunity available to the a white man. The stigma also held with women; though they could find menial jobs, the possibility of working up the ladder toward success was denied them.

I bring this up because I find it interesting to note the history of the free market system in America as far as its societal impacts go. It wasn't until the 20th Century that women and blacks could even really dream of making something really successful of themselves, but now, both women and blacks can be found heading large businesses and organizations. Now, I won't go so far as to say that bias is dead in the free market economy, because it isn't. The implementation of the Equal Opportunities Act is an example of this. It did take a while for blacks and women to have equal opportunities in the work force, but I am of the opinion that having a free market economy was the quickest way to that. I might not have any evidence to back that up, but it seems pretty logical in my head. We can accept the past as long as we commit to continually moving towards a country that finds success without hypocrisy or bias.