Dynamic Markets and Conventional Ignorance ― The Great American Dilemma

A market economy is the only mechanism that can create jobs, distribute wealth, spur economic growth, and stabilize the economy for all. However, the current American market economy is not working - it is helping the "1%" instead of distributing wealth and yet simultaneously convincing the "99%" that this market is the only way to create jobs. The current unchecked system allows those wealthy few to "steal the American dream," as Hedrick Smith claimed. In order for the United States to grow the economy, the current system must first be modified to level the playing field, and then must be used to develop the market system's originally intended purpose - improve the quality of life for all.

In this follow up to From a Market Economy to a Finance Economy, Samli reflects on his more than half a century of economic experience and research, maintaining that financiers, the government, and many decision makers in both politics and the economy, do not really support the "free market." He puts forth key ideas for using the market mechanism correctly to benefit all Americans.

A. Coskun (Josh) Samli is a Research Professor of Marketing and International Business at the University of North Florida, USA. He is the author and co-author of almost 300 scholarly articles, 23 books, and 30 monographs. Samli has lectured extensively in Europe, Eastern Europe, the Middle East, the Far East, and Oceania, and was very active in the Fulbright Commission.