Doesn't self-interest lead to price gouging, corruption and cheating? Sometimes it does, but most often it is held in check by competition. In today's American society the discussion of self-interest and competition usually results in a discussion of the proper role of government regulation. Our economy in which we have lived had worsened year after year and probably will not improve for some time. In our society today, the 1% influence is well established in our government, their (1%) future is so very linked to the 99%, even they don't realize that improving the 99% lifestyle will benefit them in the long run.
Self-interest in today's American society is how pretty much is all set-ups from government to lobbyist to political campaigns. The 1% seems to have their hand everywhere making sure they get what they want and how they want it; like putting pressure on the senate, and congress to always get very generous tax breaks, to make sure their preferred candidate has the best chance to win elections by donating millions of dollars to their political campaigns. "Wealth begets power, which begets more wealth" (Stiglitz 750). For example, the current government has talked about the redistribution of the wealth, something the 1% does not like to hear and their influence is heard by the voice of some congressman as the government trying to be 'communist'. "They also worry about strong government-one that could use its powers to adjust the balance, take some of their wealth, and invest it for the common good," (Stiglitz 748), at the end of the day we can see how the government is so divided that no law passes without the other side giving up something in favor of the 1% like tax breaks. "Lowering tax rates on capital gains, which is how the rich receive a large portion of their income, has given the wealthiest Americans close to a free ride" (Stiglitz 748-749).
