John Maynard's Capitalist Theory

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Source #1 In the first source, a man by the name of John Maynard believes that “Capitalism is the astounding belief that the wickedest of men will do the wickedest of things for the good of everyone”. Clearly, John Maynard is against capitalism, because he had a different approach to how economics should be. John Maynard was a man who inspired, President Roosevelt at a time of recession to broadcast his theory to all the citizens in America. John Maynard’s theory was that the government should spend more and lessen taxes so there would be more money for everyone. The name of his theory was named, Keynes economics reflecting his belief on how the government should regulate the economy. John Maynard is opposed to laissez-faire, meaning leave …show more content…
The source is directed towards Adams Smiths theory, the invisible hand. Adam Smith was known to be one of the fathers of modern economics who believed in limited government involvement and the laissez theory. Adam Smith wrote a book about the invisible hand called “The Wealth of Nations” and in a part of the book he described the meaning of the invisible hand. The invisible hand was believed to guide the economy, which was riding on self interest. With no government involvement it meant at the time free markets were allowed to instill policies without any consent of anyone. Since there was no government involvement workers did not have the protection of their human rights and there were no labor unions so workers did not have rights to oppose to business demands. All of these things are what government is in charge of, the man in the image was laid off because he lived in a time where whatever happens, happens. It’s obvious the cartoonist is opposed to the invisible hand, and believes that the government should be involved in economics or more workers would be forced to lose their job for the sake of self …show more content…
In each source there is a different or similar perceptive on the extent of how much the government should be involved economics. In some cases, government involvement was a success of some individuals and was a tragedy for others. Each individual had a different ideology on how economics should be, which proves that one way can work for others and the impact could be the same or different. In source 2 and 3 Adam Smith and Milton Friedman had similar beliefs on the approach to economics. In source 1, John Maynard had an opposing view on how critical the government involvement was to obtain a welfare state. Their alternate thoughts on how an economy should work show us that there is a middle ground in both of their ideologies. I believe the government should be a part of economics, but to an extent, so both parties would be able to

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