Economics Essay

1450 Words Feb 15th, 2016 6 Pages
Social 30­1 Economics Essay June 2011
Zrinna Mallock This source states that the private properties cause citizens of the state to turn against each other because the people who have control of the means of production have all the control and it is also implied that the people who own the productions have utter control of their health standards, what they pay the workers, and the cost of their products on the market. The source also implies that the interests of those who “have” and run some of these means of production result in conflict with those who “have not” and have to comply to the standards and the conditions set by those who “have”. The source implies that pure capitalism is not in the best interest of the
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Although capitalism is seen as rule by the people and free market, without government rules and regulations it would not exist. Even capitalism has some government involvement with the three basic rules they follow, and without these rules many serious social and economic problems would not be fixed. Capitalism relies on stable banks and financial businesses in order to function properly, when people wish to take out all their money at once the banks become susceptible to disaster and the reason some of the banks have not failed is because of the government. The government provides the banks the money they need when they do not have it themselves. The government also puts in place a stable supply of money and without it the economic system would rely heavily on barter and extremely limited. When the money was distributed by the banks there was no reliability and was incredibly chaotic, but now the stable money supply is supplied and maintained by the government and no one else.
Within the United States there are various areas within businesses and economics that have government regulation; in a society that values capitalism, such as employment and labour.
They regulate this by putting in place employment laws on things such as minimum wage, benefits, working conditions and equal opportunities, this shows how socialism practices benefit everyone although by some it may not be seen that way.

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