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Property Rights:
The Constitution recognized the rights for property. Early settlers didn't want the government to have the power of taking your land away, so the 5th amendment was formed. The government can not take land away unless it is for a public reason. Even then the government must pay for the value of the land being taken away. Property rights also apply to businesses and protect them from the government. Property rights allow the owner to determine how to utilize the property. The government can not make you utilize your land in a certain way.
The Constitution recognized the rights for property. Early settlers didn't want the government to have the power of taking your land away, so the 5th amendment was formed. The government can not take land away unless it is for a public reason. Even then the government must pay for the value of the land being taken away. Property rights also apply to businesses and protect them from the government. Property rights allow the owner to determine how to utilize the property. The government can not make you utilize your land in a certain way.
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Taxation:
The Constitution states the way the government can tax individuals and businesses. Congress has the power to levy taxes, but direct taxes must be divided by population so everyone pays equally. Businesses have the right to bind contracts. There can be no law that changes the terms of businesses agreement. Contracts can not be change by the government.
The Constitution states the way the government can tax individuals and businesses. Congress has the power to levy taxes, but direct taxes must be divided by population so everyone pays equally. Businesses have the right to bind contracts. There can be no law that changes the terms of businesses agreement. Contracts can not be change by the government.
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Open Opportunity:
Open opportunity allows anyone participate in the marketplace. Even the poorest people could end up as millionaires. Different companies can end up with different results. Some businesses can go bankrupt while others can become billion dollar companies. Anyone can take the risks of becoming an entrepreneur, someone who uses all the factor of productions to create a business. Steve Jobs started with nothing and ended up creating a billion dollar business. In America you do not have be rich to change your way of living.
Open opportunity allows anyone participate in the marketplace. Even the poorest people could end up as millionaires. Different companies can end up with different results. Some businesses can go bankrupt while others can become billion dollar companies. Anyone can take the risks of becoming an entrepreneur, someone who uses all the factor of productions to create a business. Steve Jobs started with nothing and ended up creating a billion dollar business. In America you do not have be rich to change your way of living.
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Economic Rights:
Everyone has the same legal rights, so anyone can participate in the marketplace. Private property rights give Americas the right to control their belongings. With free enterprise system citizens are able to make their own choices when it comes to their own property. People can decide the contract they desire to have because of free contract. People have the right to buy and sell what they want. They are not limited to certain times or prices to sell objects. Competition helps motivate companies to always keep improving. Without competition, companies would not feel obliged to improve products with a better cost. It also gives the public a more variety of options.
Everyone has the same legal rights, so anyone can participate in the marketplace. Private property rights give Americas the right to control their belongings. With free enterprise system citizens are able to make their own choices when it comes to their own property. People can decide the contract they desire to have because of free contract. People have the right to buy and sell what they want. They are not limited to certain times or prices to sell objects. Competition helps motivate companies to always keep improving. Without competition, companies would not feel obliged to improve products with a better cost. It also gives the public a more variety of options.
![Picture](/uploads/2/7/3/6/27367709/543016747.jpg?250)
Government Role:
The government has a limited role when it comes to the market, but they still have some control of the market. The government looks out for wellbeing of society and have set regulations so society health is not affected. There are certain regulations businesses have to follow for the environment. For example, gas stations have to dispose the oil properly so it does not effect the soil. The safety of the public is very important and medicine has to be safe to be on the market. Food must be prepared in a sanitary working station.
The government has a limited role when it comes to the market, but they still have some control of the market. The government looks out for wellbeing of society and have set regulations so society health is not affected. There are certain regulations businesses have to follow for the environment. For example, gas stations have to dispose the oil properly so it does not effect the soil. The safety of the public is very important and medicine has to be safe to be on the market. Food must be prepared in a sanitary working station.