In the upcoming presidential election there is much controversy amongst the candidates. There is a self-righteous, egotistical, money crazed madman named Donald Trump. There is a candidate that draws interest for the reason that she could be the first female president, but also because she should most likely be in prison for her previous political decisions. Then, there is an innocent, old, career politician who is a self-proclaimed Socialist. Of these three candidates, I would argue that the Socialist would be the most detrimental to this country’s well-being. I believe that socialism is a flawed form of government that completely defies human nature and is bound to fail for several reasons. Socialism diminishes the true values of the
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However, regulating business, in ways such as setting a $15.00 minimum wage, would only hurt the lower class Americans who support a Socialistic economy. Businesses are run by people in the upper class, and jobs are created throughout these businesses, “any attempt to equalize people by redistributing wealth must result in a destruction of capital and of the ability to create jobs and prosperity, and thus reduced incomes,” (Kelly). Regulation over business that is meant to take money out of the pockets of business owners would only reduce the amount of jobs available for working class Americans. Business owners are often viewed as greedy, self-serving human beings, and less regulation would mean more flexibility for these men and women. This is not necessarily a bad thing. In a true free-market economy business practices that are legal, just, and beneficial to the consumer are rewarded by more business, and thus more money in the economy. Wealth cannot be increased by dividing it up among people. Only through a person’s prosperity and investment in the economy, whether it be through jobs or just as a consumer, will the economy grow. In a socialistic economy this growth in business would not be …show more content…
Capitalism often gets a bad reputation because it is viewed as a system that benefits the rich and hurts the poor. This is not necessarily true. Yes, some business owners do practice unjust business strategies, however in a system that is based on the consumer’s happiness unjust business practices typically hurt a business in the long run. In fact, “capitalism by its nature rewards many virtuous behaviors,” such as, “industriousness, farsightedness, diligence, and prudence,” (Mueller). Many people also believe that a capitalist economy is at fault for many of the economic downfalls in this country’s history. This is not the case, “The economywide discoordination that reveals itself in the bust is not […] caused by the free market. To the contrary, it is intervention into the free market, in the form of distortions of the structure of interest rates—which are crucial coordinating mechanisms—that causes the problem,” (Woods). The 2008 housing market crash was not due to the free market system in place beforehand, in fact the Federal Reserve System’s tampering with the interest rates was the catalyst of the worst recession in recent history. Capitalism is often the scapegoat to many of the country’s economic problems. The truth is that Capitalism promotes a healthy economy based on a consumer’s
However, regulating business, in ways such as setting a $15.00 minimum wage, would only hurt the lower class Americans who support a Socialistic economy. Businesses are run by people in the upper class, and jobs are created throughout these businesses, “any attempt to equalize people by redistributing wealth must result in a destruction of capital and of the ability to create jobs and prosperity, and thus reduced incomes,” (Kelly). Regulation over business that is meant to take money out of the pockets of business owners would only reduce the amount of jobs available for working class Americans. Business owners are often viewed as greedy, self-serving human beings, and less regulation would mean more flexibility for these men and women. This is not necessarily a bad thing. In a true free-market economy business practices that are legal, just, and beneficial to the consumer are rewarded by more business, and thus more money in the economy. Wealth cannot be increased by dividing it up among people. Only through a person’s prosperity and investment in the economy, whether it be through jobs or just as a consumer, will the economy grow. In a socialistic economy this growth in business would not be …show more content…
Capitalism often gets a bad reputation because it is viewed as a system that benefits the rich and hurts the poor. This is not necessarily true. Yes, some business owners do practice unjust business strategies, however in a system that is based on the consumer’s happiness unjust business practices typically hurt a business in the long run. In fact, “capitalism by its nature rewards many virtuous behaviors,” such as, “industriousness, farsightedness, diligence, and prudence,” (Mueller). Many people also believe that a capitalist economy is at fault for many of the economic downfalls in this country’s history. This is not the case, “The economywide discoordination that reveals itself in the bust is not […] caused by the free market. To the contrary, it is intervention into the free market, in the form of distortions of the structure of interest rates—which are crucial coordinating mechanisms—that causes the problem,” (Woods). The 2008 housing market crash was not due to the free market system in place beforehand, in fact the Federal Reserve System’s tampering with the interest rates was the catalyst of the worst recession in recent history. Capitalism is often the scapegoat to many of the country’s economic problems. The truth is that Capitalism promotes a healthy economy based on a consumer’s