It is often considered that the Democratic party is more for the people and the Republican party is for the wealthy and those able to provide for themselves through free enterprise. Based upon economics, the Republican party feels as though the United States has established its dominance and greatness through free enterprise. They believe that innovation and economic growth has come from it. The Democratic party views the economy as too complicated for the everyday person hence why they feel the government should aid in all business decisions through the establishment of labor unions. The main contrast here is that
John D. Rockefeller used his political and legal power, brought on by his great wealth, to increase his monopoly, buying out small companies to decrease competition, and forcing railroads to favor his corporation. As a consequence of these actions, the government sought to rein in his power by enacting the Sherman Antitrust Act, forever changing the laws by which corporations comply. Standard Oil not only encouraged more railroads being built near production factories, but the entire oil industry has had significant impact on our environment. According to the text “Standard Oil Trust and its successor companies have contributed between 4.7 and 5.2 percent of worldwide carbon dioxide emissions.” By the widespread use of high-quality kerosene brought on by Rockefeller, population’s entire lifestyles forever changed, too. People were free to enjoy activities after sundown, work into the night, and be increasingly productive.
Democracy means ‘power voted by the people for the people’ and see’s society as a whole, more important than the individual. In contrast, liberalism core principle lies with the individual. So for liberals to adopt democracy it is also adopting collectivist views of the majority, which is a fear towards liberalism and their beliefs of the single entity of the individual. A minority of liberals - none in the modern period- reject democracy, however, no liberals accept democracy uncritically. Plato and Aristotle believed that a fear did, run though liberals as they viewed democracy as a system of rule by the masses, thus an implication of individualism; seeing society as not as single individual entities but rather a collection of individual groups, possessing opposing interest.
Capitalism is similar to socialism in that everybody should ideally get out what they put in proportionally. They despise free enterprise. Both require strong government support to survive. Both have a large numbers of supports. Capitalism is more effective and innovative than socialism.
These last stated four men were also known as the "four musketeers." The "four musketeers" threatened what we know as a free market capitalist system. With the tremendous power and independence the Federal Reserve shows from In Fed We Trust, the situation of the Great Panic and how they dealt with it is very debatable. The Fed had to try to get the economy back to stable conditions by any means possible and could do this by just creating money from nothing. In Fed We Trust demonstrates the challenges the American Society were faced with in dealing with this economic crisis different from any other, how monetary policy was transformed, and how the Fed converted from Greenspan to un-Greenspan.
Let’s shift the focus by showing just how drastic these differences and concepts can be between the ideologies by looking at liberalism and socialism in terms of government and political systems. In order to understand the workings of a liberalist government we must understand their beliefs. Liberalism supports the idea of individualism over society in that people have the right to make choices for themselves, not society. Liberals believe in equality meaning that no person is morally or politically superior to another. They also believe that people as individuals are capable of thinking logically and rationally in areas of political science and economics, allowing the replacement of old, traditional views by newer and more appropriate views that fit today’s modern way of living.
The amount of a role government plays in a persons life is one of the differences between the liberal and Marxist theory. The issues of equality, social status and power are also important. Liberalism, in regards to economic status, is far more beneficial to the individual than a Marxist social ideal. If you are afforded the freedom a liberal system provides, there is a very high ceiling for success, be it wealth, power or a fulfilling existence. A Marxist would argue the same, but because of the underlying limitations (“leveling” by the people or a ruling power i.e.
The power shifted to the new elite. The way the new elite are making more money than they deserve is that they form monopolies. “Small storekeepers and merchants are becoming the clerks and salesmen of great business houses” (page15) and the big corporation form monopolies. We call the wealthy industrialists “robber barons” because they made a lot of money through “exploitation of the working class.” For example,
According to Mintzberg "the strategic decisions of large organizations inevitably involve social as well as economic consequences, inextricably intertwined...there is no such thing as a purely economic strategic decision." Corporate competitiveness, corporate governance, and corporate citizenship are the three key pressures that shape the agenda of business leaders today along with the growing pressure on their companies to deliver broader societal value (Smith, 2003). This pressure has been brought on by public reaction to globalization, and distrust of big businesses. In today’s social and political climate by consumers
Zaibatsus were wealthy companies that became very powerful in Japan. Thus, they were able to make the democratic government to pass laws that would benefit big companies. These caused rumours of corruption and political parties accused one another of being corrupt. Thus, the people lost confidence in the democratic government’s ability and were attracted by alternative forms of government such as military rule which promised to do the best for Japan, leading to the rise of fascism. Poor relations with the West led to the rise of fascism in Japan.