Here Is an Excerpt Form an Editorial Praising Capitalism in the Economist

question 143

Essay

Here is an excerpt form an editorial praising capitalism in The Economist: "It is competition that delivers choice, holds prices down, encourages invention and service, and (through all these things) delivers economic growth." To what type of competition does the writer refer? Is it the sort of competition that economists study? Explain.

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Definitions:

Northern Protesters

Individuals or groups in the northern regions, often referencing historical or contemporary movements, who actively demonstrate against specific issues or policies.

Southern Protesters

Individuals or groups in the southern regions of a country who actively demonstrate or campaign against certain policies, decisions, or societal conditions.

1863

A significant year during the American Civil War marked by the Emancipation Proclamation, which declared the freedom of slaves within the Confederacy.

Northern Victory

Northern Victory refers to the triumph of the Union (northern states) over the Confederacy (southern states) in the American Civil War, leading to the preservation of the United States and the end of slavery.