Economics Essay

1461 words - 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 
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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. The government regulates other things 
as well such as privacy, including information given to employers during the interviewing 
process, and business transactions by putting in privacy laws that prevent businesses from 
disclosing that information. including social security numbers, addresses, names, and health 
conditions, if the laws are not met people may sue the businesses for the disclosure of sensitive 

information. With the government regulating these things it shows how having minimal 
government involvement is detrimental to many people as well as the economic system itself, 
and leads to inequality for many. It also shows that a place so focused on capitalist values can 
understand the need for more government involvement than just the bare minimum, as it 
ultimately leads to equality for all and meets the needs of the people. In regards to the source the 
regulations are seen as giving the “have nots” more say in things that cause the conflicts in 
society.  
Government funded research such as Dr. Salk’s provides things that lead to the good of 
society, the government funds the research purely for the research. The March of Dimes was 
implemented by Franklin D. Roosevelt. The March of Dimes was created as a nonprofit 
organization to fund Salk’s polio research. With the help of the foundation Salk successfully 
created the first vaccine for polio. Since the release of the polio vaccine the organization had to 
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