Capitalism and Citizenship

This is one of those times when my opinion is still forming...meaning I am not pretending to have the end all and be all of answers. Common sense and intuition alone are not sufficient to provide surety here, but for the most basic of reasons...lack of unbiased information. So, I will give you my preliminary thoughts and reasons for them, then you, dear reader, can bring up the points I am missing.



As a typical Middle American, one who has worked for every paycheck, has never been rich enough to worry about a personal stock portfolio, (beyond the 401k), but also never poor enough to qualify for Public Aid, (actually, not true, but, I didn't know I qualified until I no longer qualified), I have a deep seated, instinctual suspicion when it comes to the Big Boys. You know, corporate America, politicians in general, and all those who's lives are beyond my reality.



So, I am listening to the news, reading the papers and trying to sort out what this 700 billion dollar bailout really means. These are some of the things I have heard and/or come across in the past few days...


There is a new, supposedly more difficult, test for those who want to become Citizens of our Nation. At least that is what the headline says, and offers a quiz for those of us who were born here, to see if we could pass. Follow this link for the new test :http://usgovinfo.about.com/library/blinstst_new.htm



Question number 11 is most telling, and most pertinent to this discussion.

11. What is the economic system in the United States?*
A: capitalist economy
A: market economy


According to the site, there sometimes is more than one correct answer, as in this case.

For a definition of a capitalist economy, lets use Wikipedia's:

Capitalism is the economic system in which the means of production are owned by private persons, and operated for profit and where investments, distribution, income, production and pricing of goods and services are predominantly determined through the operation of a free market, rather than by central economic planning. Capitalism is usually considered to involve the right of individuals and corporations to trade, incorporate, employ workers, and use money provided by central banks, in goods, services (including finance), labor and land. In theory, production and distribution in a capitalist system are governed by the free market rather than state regulation, with state action confined to defining and enforcing the basic rules of the market though the state may provide a few basic public goods and infrastructure.


Perhaps someone out there smarter than I can explain how the above definition jives with the action just taken by Congress. I just don't get it. One of the basic concepts required to be understood by those who wish to become Citizens of this Nation is understanding what Capitalism and a Free Market economy are all about. Yet, those who are already Citizens, and who have supposedly dedicated their lives to serving the principles of our Nation, either don't know or forgot this fundamental concept.


Yes, I did say I don't have a fully formed opinion, and yes, it is obvious which way I am leaning. I am merely leaning because there have been so many voices raised in support of this action, voices that in theory know a lot more about this than I do, so I figure there must be something basic I am just not getting.