1. Income inequality in most European countries is smaller than it is in the US given all of the approaches and strategies available to the US (and to Europe ) for improving income distribution, why do you think this is so.
2. American Capitalism is not pure Capitalism; it has become a mixed economy, largely because of defects or failure in the market system that Adam Smith did not foresee. What are these defects or failure that Smith didn't foresee? Discuss