Dissimilar to the fact that a Command economy does not consist of private property, private property does in fact exist in both a Market and Mixed economy. In a Command economy the government has significant influence on the economic behaviors and the economic decisions. In this economy the state and government control the settled and unsettled economic decisions, resources, products being produced, the products use for consumers, and all the decisions that relate to the distribution of income. A Command economy is owned by the state and all work that is completed goes towards the economies total production. People live uncomfortably at the expense of others as well as
Many people suggest that capitalism is better than communism, and vice versa. The simple fact remains that neither may be better or worse, it depends on the government's method of carrying out each system's principle for our benefit. Economic shift has produced positive results, as well as negative ones in various countries. Capitalism is the system in which the United States mostly operates on. This type of economy is based on private ownership of the means of production and product creation to gain profit.
Is it just; is it better than capitalism? III. It isn’t; socialism is unfair to both the consumers and the producers. Thesis Statement: The three ways that capitalism is superior to socialism as a means of economic justice are that it distributes wealth on the merit of the product produced, it leaves the economic system free to innovate, and it allows the producers and consumers to meet at a fair price. Body I.
Q. Assess the Marxist view that the main role of the family is to serve the needs of capitalism. A. To a certain extent, some sociologists would disagree with the Marxist viewpoint that the main role of the family is to serve the needs of Capitalism as some other beliefs, ideas and approaches may disagree and state that rather there are more important functions of a family which contribute to society than just to work for the needs and interests of capitalism. Marxists view that the most essential part of the family is to serve the needs of capitalism in an attempt to fuel and profit the bourgeoisie. Marxists see society as based on unequal class conflict between the two social classes; the capitalist class, who owns the means of production and the working class whose labour the capitalists exploit for mere profit and power.
He also believed in these three things. Law of Self Interest, which were that people work for their own good. Law of Supply and Demand, which was that enough goods will be produced at the lowest possible price to meet demand in a market economy and Law of Competition which was that competition forces people to make a better product. His idea, Capitalism, had
However, state or welfare capitalism subsist when market services and production are owned by private sectors for the pursuit of profit yet are required to operate and function under rules and regulations that control even place limitations on what can be produced or sold. These rules and regulation are laws for market restraints were designed for the protection and welfare of the public. This deters private sectors from taking advantage by the overpricing of goods and services for gain of profit, yet it also allows the government to benefit through the collection of taxes. A primary shortcoming of capitalism is that it results in a society of social inequality. Such discrimination and classification by means of financial status has placed the wealthy population on top and the less fortunately population at the bottom.
The topics I feel that had the most educational value were all of the topics. I find not one is more important than the other and each topics builds off previous topic discussed. These topics discussed pertaining to microeconomics are critical to companies, firms, and consumers. Companies know how much output to produce based off of profits. Companies will know where they can maximize these profits.
Locke was proclaiming that government had to be fair in order to be sustainable. If not it would fail in one way or another. Locke addresses the state of nature in order to define political power. Marx talks a lot about a capitalist’s government. And how that in a capitalist economy the government is completely under the control of the capitalist class and that the government does not care about the conditions of the poor.
Greed and inequality form a base for capitalism, best observed when discussed with competition. Competition would only become beneficial in a free market. The component that is affective in a free market economy is the flexibility to spend money and make money. He was firm with his approach and always argued that product was derived through the self-interest of the worker. The way that Adam Smith promoted his Invisible Hand theory was through his book “An inquiry into the Nature and Causes of the Wealth of Nations”.
Evaluate the economic case for taking privatised indutries, such as the railways, back into public ownership 30 Marks Privatisation is the act of taking something that is state owned and changing it to private ownership or control. The benefit of keeping the industry privatised is that it promotes efficiencies, such as X, allocative and productive. This is because by making an industry private, you are creating it into a business which is profit driven and which has to be productively, X and allocatively efficient at least to some degree to survive in a contestable market. This could be seen as the main argument against nationalisation along with the cost to the taxpayer. The cost to the government and the taxpayer of keeping the business’ running and making sure they efficiently pursue their desired function can have high opportunity costs.This is especially prominent in a time of recession/economic downturn when the money could be spent in other ways to increase growth the economy,such as macroeconomic policies including fiscal and monetary policy.