Now that you have been introduced to different economic systems in Chapter 17 and the government’s role in the economy in Chapter 18, watch the video “5 Reasons Income Inequality Has Become a Major Political Issue” about the growing wealth gap in the U.S. Answer the following questions in a post of at least 150 words:
- What type of economic system does the U.S. have?
- In what ways does the U.S. government intervene in the economy? Who benefits from government intervention?
- According to the video, what economic changes have to lead to growing income inequality in the U.S.? In what ways do you feel the impact of income inequality in your own life?