America's historic formula for securing economic vitality and social mobility has always been based on providing ambitious strivers with the entrepreneurial freedom to work hard, accumulate personal wealth, and provide employment possibilities for others, On repeated occasions our commercial republic has adapted risk taking capital markets to the particular domestic and international political and economic imperatives of the moment (Hart, 2002) and produced significant technological and material improvements that improved the standard of living for many. The formula brought quick progress to the post revolution set of states, eased the often rocky transition from an agrarian to industrial order, and paved the way for American post World War II international economic supremacy. It routinely expanded training, educational, and labor market opportunities in ways that eventually met the hopes and aspirations of successive waves of immigrants and a majority of citizens.
展开▼
