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American Economy 1 Running head: American economy American Economy: Economic power Anthony A Hamilton Westhills Community College Sociology 2 - Social Problems Professor Dr. Loyd Ray Ganey Jr. May 12, 2003 American Economy 2 Abstract The US's economic system creates many problems throughout the world. Recognized as the Worlds leader in Consumption and economic growth the US has established a presence throughout international borders. Moreover, the US's economic power has fueled controversy pertaining to global capitalism, corporate welfare, and consumption. American Economy 3 Economic power Corporate welfare is, any action by local, state or federal government that gives a corporation or an entire industry a benefit not offered to others. It can be an outright subsidy, a grant, real estate, a low-interest loan or a government service. It can also be a tax break, a credit, exemption, deferral or deduction, or a tax rate lower than the one others pay (Barlett & Steele, 1998). The federal government has done a lot to...

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