Sunday evening, when I met my Korean student, she asked me to talk about the economic crisis. "Many people I know have lost their jobs," she said. "Things are so expensive now. We've tried to cut costs at every corner, like always cooking at home and not dining out."
We delved into the nature of capitalism and the American culture, exploring its inherent economic cycles of booms and busts and the emphasis on individual responsibility in times of crisis.
In the U.S., these cycles significantly impact people’s lives like you and me. However, the government, heavily influenced by capitalists whose primary interest is maximizing profit, resulting in prioritizing corporate interests over public welfare.
With this, America is still a great country to many people because it offers individuals maximum freedom. Here, you can pursue your interests as long as you stay within legal boundaries. That’s why entrepreneurs like Elon Musk and plenty of talents came to the U.S.
Also, the U.S. boasts wealth, a top-tier education system, a relatively just legal system, freedom of expression, and excellent public libraries. These factors attract many, including those from China.
However, these advantages come with trade-offs, especially in times of economic hardships. The way countries deal with crises varies due to their different systems and cultures. Despite being the wealthiest country in the world, the U.S. has one of the largest homeless populations among developed nations. This paradox arises from several factors: stark income inequality, inadequate social safety nets, its culture valuing extreme individual responsibility, and housing affordability issues.
In conclusion, while America offers unparalleled opportunities and freedoms, it also faces significant challenges in creating an equitable and harmonious society.