The US needs an economy that is grounded in justice and morality, where everyone, free of undue resource constraints, can prosper. To achieve this, citizens ought to have universal access to economic rights, such as the right to employment, medical and health care, high-quality education, and sound banking and financial services.
Currently, our system provides these rights primarily through private providers in the “free market,” but these companies often fail to meet the following criteria:
- Quantity: Are the goods adequately supplied?
- Quality: Are the goods high quality?
- Access: Do people have adequate access to these goods?
America’s markets-first approach to policymaking is failing. In “Increasing Public Power to Increase Competition: A Foundation for an Inclusive Economy,” Sandy Darity, Darrick Hamilton, and Rakeen Mabud argue that the government should intervene by introducing public options that provide essential goods and services in direct competition with private firms.
By increasing competition in the market for essential goods and services, government can be the agent of higher levels of American well-being, health, and opportunity—for all.