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Solved by verified expert:A one two page graded essay Include the following in your essay:a.A definition of ‘capitalism.’ (One sentence)b.A definition of ‘American Capitalism.’ (Two to threesentences.)c.A definition of ‘American Exceptionalism.’ (Two to three sentences.)d.Your statement on whether American Capitalism is an example of American Exceptionalism. Your statement may say “Yes,” ”No,” “Maybe,” or “Sort of.” ( Two to four sentences.)e.Present no less than three reasons why your statement is the correct statement. (Nine totwelve sentences.)


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American Exceptionalism Definition

American Exceptionalism Definition
American exceptionalism is an ideology holding the United States as unique among nations
in positive or negative connotations, with respect to its ideas of democracy and personal
American Exceptionalism Definition
Though the concept has no formal definition, there are some themes common to various
conceptions of the idea. One is the history of the United States is different from other
nations. In this view, American exceptionalism stems from the American Revolution,
becoming what political scientist Seymour Martin Lipset called “the first new nation” and
developing the American ideology of “Americanism”, based on liberty, egalitarianism,
individualism, republicanism, democracy, and laissez-faire economics. This ideology itself is
often referred to as “American exceptionalism.” Another theme is the idea the U.S. has a
unique mission to transform the world. Abraham Lincoln stated in the Gettysburg address
(1863), Americans have a duty to ensure “government of the people, by the people, for the
people, shall not perish from the earth.” Another theme is the sense the United States’
history and mission give it a superiority over other nations.
American Exceptionalism Definition
The theory of the exceptionalism of the U.S. has developed over time and can be traced to
many sources. French political scientist and historian Alexis de Tocqueville was the first
writer to describe the country as “exceptional” in 1831 and 1840. The actual phrase
“American Exceptionalism” is purported to have originated in the Soviet regime of Joseph
Stalin as a means to condemn those who suggested the U.S. was impervious to communist
ideals. U.S. President Ronald Reagan (1981-1989) is often credited with having crystallized
this ideology in recent decades. Political scientist Eldon Eisenach argues in the twenty-first
century American exceptionalism has come under attack from the postmodern left as a
reactionary myth: “The absence of a shared purposes ratified in the larger sphere of liberalprogressive public policy….beginning with the assumption of American exceptionalism as a
reactionary myth.”
Typical Expression of American Exceptionalism
Facts Relative to American Exceptionalism
1. The United States has the largest prison population in the World.
2. More than one in five American children fall below a relative poverty line, which
UNICEF defines as living in a household that earns less than half of the national
median. The United States ranked 34th of the 35 countries surveyed.
3. The United States was ranked 23rd in a new report that ranked 145 countries by
the wellbeing of their residents. Participants answered questions about five aspects
of their well-being: their sense of purpose, social relationships, financial situations,
community involvement and physical health.
Facts Relative to American Exceptionalism
4. The United States was ranked number one in the world for defense spending in
5. The United States did not make the top ten list for the World’s ten Safest
Countries: Spain, Japan, Italy, France, Australia, Germany, Canada, Poland,
Bangladesh and China.
6. In 2015, The United States fell to 20th on the Global Freedom Index. According to
the Index, the freest nations in the world are, in order: Hong Kong, Switzerland,
Finland, Denmark, New Zealand, Canada, Australia, Ireland, United Kingdom and
7. Cheat reports on the 10 countries that export the most weapons, and
the U.S. was number one with 31% of the global market.
Facts Relative to American Exceptionalism
8. According to Lists the United States ranks #1 in the world for the most
billionaires at 480 worth $2.05 Trillion.
9. Education reported that in 2015, the United States was ranked fourth
on The Most Educated Countries in the World list.
10. Reporters Without Borders ranked the performance of 180 countries on
freedom of the press. The U.S. was ranked #49.
Five Myths of American Exceptionalism
1. There is something exceptional about American
Five Myths of American Exceptionalism
1. There is something exceptional about American
2. The United States behaves better than other nations do.
Five Myths of American Exceptionalism
1. There is something exceptional about American
2. The United States behaves better than other nations do.
3. America’s success is due to its special genius.
Five Myths of American Exceptionalism
1. There is something exceptional about American
2. The United States behaves better than other nations do.
3. America’s success is due to its special genius.
4. The United States is responsible for most of the good in the
Five Myths of American Exceptionalism
1. There is something exceptional about American
2. The United States behaves better than other nations do.
3. America’s success is due to its special genius.
4. The United States is responsible for most of the good in the
5. God is on the side of the United States.
American Exceptionalism Discussion Topics
1. How do you define ‘exceptionalism’ with regard to a nation?
2. Are there any “ordinary” nations? If yes, name some. If no, state why
3. Do most nations claim they are exceptional?
4. How do most citizens think about their own nations? Do they usually
think their own nation is exceptional?
5. Russia claims to be an exceptional nation; it is a major world power.
How does Russian exceptionalism differ from American exceptionalism,
if at all?
6. Is any nation truly exceptional?
American Capitalism
Kinds of Economic Systems
Two Basic Types:
Free-Market Economies:
Individuals and businesses make their own economic
Command Economies:
The state’s central government makes all of the country’s
economic decisions.
Economic Time Line

Definition of Capitalism
Capitalism is defined as an economic system characterized
by private or corporate ownership of capital goods; by
investments that are determined by private decision; and
by prices, production, and the distribution of goods that are
determined mainly by competition in a free market.
Origin of Definition of ‘Capitalism’
Adam Smith is often referred to as the “Father of
Capitalism.” He described a system in which an “invisible
hand” would maintain the market without government
intervention. The government exists merely to protect
individual rights, which according to Smith, also include the
establishment of an “army to protect against foreign
invaders; a police force to protect against domestic criminals;
and a court system to settle disputes that arise, enforce
contracts, and punish criminals according to objectively
predefined laws.”
Definition of ‘Invisible Hand’
Definition: The unobservable market force that helps the
demand and supply of goods in a free market to reach
equilibrium automatically is the invisible hand.
Description: Adam Smith in his book ‘The Wealth of Nations’
[published in 1776 assumed that an economy can work well in
a free market scenario where everyone will work for his/her
own interest. He explained that an economy will
comparatively work and function well if the government will
leave people alone to buy and sell freely among themselves.
History of American Capitalism

Factors Influencing an Economy
Governmental regulation
Federal financial controls, like federal bonds and federally controlled interest rates
Available capital (money)
Liquidity of capital
Size of workforce
Skill levels of the workforce
Educational systems
Innovation taking place
Natural resources, like minerals and oil
Produced resources, like electricity and digital inter-connectivity
Controls on media
Safety nets, like unemployment compensation and social security
Value of a country’s currency relative to other countries
Capitalism and the U.S. Constitution

American capitalism is successful, because of the low level of
controls on the economy.
The American economy is often uneven in its performance,
because the low level of controls leads of creative outbursts and
destructive events. The economy goes up and down.
Citizens love and hate American capitalism, dependent upon
whether the economy is in an upward or downward trend.
Social democracies, with greater controls, have fewer highs and

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