Political System and Major Social Problem

Essay by superman00198College, UndergraduateA, October 2009

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The first economic system is communism, inspired by the ideology of Marx and Lenin, governments took direct control of all their major economic institutions. They created planned economies in which there was little competition and the important decisions were made by government officials. The second economic system is capitalism, which displays three essential characteristics. There is private property. A market controls the production and distribution of valuable commodities. Privately owned businesses compete with one another in the market, each aiming to make the greatest possible profit. The third one is laissez-faire capitalism, which means an economic ideology that argues that the government should stay out of economic affairs and allow the free market to regulate itself. The fourth one is individualistic capitalism that emphasizes the importance of the individual over the group or community. The fifth or the last one is communitarian capitalism which emphasizes the importance of the group or community over the individual.

I think the individualistic capitalism represents the US economic system. Because we already have known what the capitalism means, and US economic system more emphasizes the benefits of the individual over the group and community. And the government as a visible hand, which means the government could interfere with the economic forces if necessary, While most of time the government is likely to be the game maker or rule maker in the whole economy.

If the US adopts one of the other models, for example, adopting part of the communitarian capitalism is a way to make the economy more diversification, and let the agent or government department more efficient and effective and play the more important role in the whole economy. Because right now if the whole economy wants to fulfill the needs and wants for all individuals, I think that is so hard to...