Explain the essential insights offered by the conservative, liberal, radical-left, and far-right approaches to this country's political economy. How might our country learn from each model to advance the cause of democracy?
What will be an ideal response?
- Conservative view: Market economics should be maintained to provide the greatest good for the greatest number of people. The United States stands out among nations as a model of extensive rights and freedoms.
- Liberal view: Government social welfare programs should transfer wealth from rich to poor to lessen inequality. Political reforms are needed to reduce the role of corporate and individual wealth in the political process.
- Radical-left view: Efforts to reform the capitalist political economy will have little effect. Fundamental change is needed in the economic and political systems so that they reflect the interests and meet the needs of the majority.
- Far-right view: This extreme position claims that the country has experienced economic decline and is losing its traditional culture due to high levels of immigration. The Trump administration has advanced a number of far-right policies to "Make America Great Again."
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