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Government Capitalism, Socialism And Monopolies

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Capitalism & Socialism Government Capitalism, Socialism & Monopolies Evelyn R. Cotton BRCTC Capitalism, Socialism & Monopoly The differences between capitalism and socialism revolves around the role of the government and equality of economics. Capitalism is an economic and political system that is based …show more content…

One of the biggest benefits of competition in free markets is innovation: new, better and cheaper products and services, or better ways of providing them. Only companies faced with constant competition are pushed to innovate: think of electronics companies such as Apple and Samsung. ?Without competition Apple would have never created their IPod, Microsoft would have never created Windows, and Google would probably be non-existent. Competition is essential because it leads to one very important thing, innovation.? 1 And those that are protected from competition and smothered by government regulation will be the least innovative: think of health care or mail delivery.? The reality is competition is everywhere, I know competition is not encouraged in many schools, which to me seems like educators are depriving students of a valuable life skill (and fact). Sure you can tell kids/students that everyone is a winner, well what happens when they get out in the real world and realize that everyone is competing for that same job at that same company??2 A market economy is one where the distribution of resources and the trading of goods and services are through the entrusted decisions of many businesses and

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Competition keeps companies striving for the highest quality products for the lowest price because they want to attract customers. However, if people had no choice where to buy their car, it would not matter what a company sold. Additionally, if there was no competition, there would be no way to benchmark your products for quality or technological advancements. Still using the car company example, the car industry would be like it is in Cuba where everyone drives cars from the 70’s, because that is all they

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During the Progressive Era there were multiple of changes occurring that people became overwhelmed. New resources in the oil market, industrialization, fights for equality. There were many factory jobs, however, no one to stand up for the workers. So of course people will turn to their government for help, the power house of the country. However, even the government was picky in what they helped with.

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Whether it was the Greeks and Romans trading across the Mediterranean, or the Chinese trading along the Silk Road, when groups of people meet to trade, they see what the other group is doing well and attempt to replicate it. This leads to the improvement of products on both sides, as the parties attempt to outdo each other for dominance of the marketplace. As markets become more competitive, the result for the consumer is lower prices and better products, which has a huge impact on the way we live today. If competition wasn’t a thing, I would still be typing this paper on a typewriter instead of a MacBook. This

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During the Progressive Era, many reforms were made in the attempt to fix the negative facets of America (Fagnilli 27). Progressives were reformers who supported ideas that attempted to make a change in society’s problems, such as corruption of government, women’s suffrage, and accessibility of education (The Progressive Era). These reformers lived mostly in urban areas, and therefore witnessed these issues first-hand, thus they believed that country could be mended by the government if it took responsibility for ensuring safe work conditions and environment, and education (The Progressive Era). Crucial to change in America, issues that were targeted by reforms had both positive and negative impacts, which indisputably changed America.

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In this essay, we will be discussing the historical context of The Outsiders. The time period when this book was being written was when the United States was increasing its activity in Vietnam, and the civil rights movement was gaining momentum, and the Beats movement of the 1950s was transitioning into the hippie movement of the 1960s. But yet not one of these political and social movements was referenced in the book. The focus of the novel is instead on class and the way it affects these specific teenagers. When the United States were getting involved in the Vietnam war, they were afraid that communism would have spread to South Vietnam and the rest of Asia.

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Big Business (Monopolies) and Exploitation of Workers From 1870 to the 1900s it was an exciting time. Industrialization, the Gilded Age, and the Progressive era were all within this time. Everything that was happening at the time revolved around big business aka monopolies. Monopolies changed the economy and the generalized way of life for all American citizens.

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With this in mind i hope you enjoy my essay. A Market economy can also be known as a “free market”, the “Invisible hand”, “Laissez-Faire” as well as many others. There are many advantages to this such as self reliance witch is designed to eliminate “lazy” people. As well as lower prices, better quality products, and more variety.

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Capitalism is an economic system where people believe that the country’s economy should be controlled by private enterprises and not the state government an example of a Capitalist would be John D. Rockefeller. A Socialist is a person who believes that the country’s economy should be controlled by ‘the people’. Upton Sinclair was a part of the socialist party and in his book The Jungle he expressed his views for socialism. The Jungle was intended to pull more people to the socialistic clause but Sinclair’s vivid descriptions in The Jungle pointed Americans in another direction. In response to The Jungle the public felt disgusted, many people were appalled at the raw descriptions in the book and the horrors that were described.

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The reasoning stands that regulation of a monopoly obstructs competitiveness, stunting the industry’s growth. It is a competitive market that creates innovative solutions and furthers human progress. Friedman’s main example is the US railway, where the 19th century had great need for the railway system, yet with the emergence of cars and planes, railroads nearly became obsolete. Thus not only do monopolies hinder the freedom of choice they also hinder the industry by depriving it of innovation. Notably, Friedman clarifies that each case of a monopoly needs to be studied independently.

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Capitalism was the philosophy that the government shouldn’t interfere in economics, and the economy would run smoothly by itself based on the laws of supply and demand. Lastly, socialism was

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Explain your answers based on the conditions of competition that we learned in this chapter a) Aspirin b) Jay-Z concerts c) Jeeps Industries that are perfectly competitive are the firms that have free exit and free entry. The prices are determined by the market demand and supply. This situation is critically analyzed in the following cases. a) Aspirin: Aspirin industry is a perfect competitive industry because many manufacturers produce aspirin.

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At the beginning of the Progressive Era there were many issues involving the unregulated businesses. Most of the problems involved safety issues that severely injured many workers, but it also involved business created monopolies to maximize their profits which affected the consumers because there was not a competitive price. This is why the American Government should be able to put regulations and laws in place to restrict businesses from unfair treatment of their workers health and safety; also, to limit the possibility of monopolies occurring to protect the consumers of the products. Many businesses now follow these laws and regulations put in place by our government which makes the story of how America was built one of progress not regresion.

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Business owners compete in a free market to make the best product or service at a price that will attract the most buyers. The successful businesses grow larger and employ more workers, thereby growing the economy. Proponents of the free market believe that this system encourages innovation, high quality goods, and increases the wealth of countries. The government does as little as possible in a free market economic

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It notes that stiff competition can reduce the potential profit of like companies. Firms must determine the strategy that will be utilized to gain and maintain the upper hand in the industry, as it relates to price, marketing, competition and the introduction of new and innovative products into the market. The more a company senses competition the intensity of its strategy may increase as it does not only respond to other firms, but also to the industry as a whole. It is natural for firms to respond to competitive moves made by its rival as it will have an effect albeit positive or negative on the industry. Firms may be forced to supply the demands for cheaper but more reliable products or to create differentiated products to maintain the competitive

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Instead of capitalists or private sectors owning the factories of production, the government owns them. This in turn results in the government collecting the profit instead of just businesses taxes. Pros and Cons Proponents of both systems have continually argued which economic system is better. Both have their advantages and disadvantages. Capitalism makes sure that an economy will produce the best products and that these are priced reasonably.

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