2. Describe your vision of a model economic system – is it capitalist, socialist, or somewhere in between? In your answer be sure to compare and contrast the two major economic systems (capitalism and socialism). How do you think the United States economy will change as we move closer to a technology-driven service economy?
Person to Respond to 1:
Hello class,
When it comes to my ideal vision of a economic system, I would definitely say that I like capitalist just how we run in the United States of America. The reasons why I prefer capitalism is due to the fact that affords economic freedom, consumer choice, and economic growth. In addition, I love how theres a balance and that we vote on everything prior to it coming into affect The reason why I think this is so important is due to the fact that the nation will be able to grow in such a better way than if it was just socialism. Also, I guess its also due to why America is the land of the free, and where all dreams can come true. With socialism, there economy “an economic system where the means of production, such as money and other forms of capital, are owned by the state or public. Under a socialist system, everyone works for wealth that is in turn distributed to everyone. Under capitalism, you work for your own wealth. A socialist economic system operates on the premise that what is good for one is good for all.” https://www.thebalancesmb.com/the-characteristics-of-capitalism-and-socialism-393509 Granted, by sharing all the wealth is not a bad thing, I just would prefer how we run the country and thats why I side with capitalism.
I also feel that as America grows more with technology, I feel as though our nation will continue to grow more and more, and become even more dynamic. We will be able to provide more job opportunities to people, as well as continue to grow our economy through more businesses opening.
Mary
Person to Respond to 2:
When an economy is consumer driven such as ours, capital flows from sales into production with a portion going to labor, which then takes a portion of the raw materials. Profits flow to retained earnings and shareholders. Capital circulates within a private economy. While this focuses on the consumers , it is the ultimate purchasing by real people that also drives most corporate purchases of equipment as they are acquired to support productions either direct such as productions equipment or indirect such as transportation or business computers. A large portion of non-consumers production would merely be other circles conned to the main cycle, but will still be driven by sales revenue.
Socialism is missing the motivation that capitalism has for innovation and personal gain, but socialism focuses more on keeping everyone in the country equal and alive. Capitalism is more for the individual and the people that work hard put in the time for the reward that comes along with it.
The amount of variety that America delivers is outstanding. Consumers can always pick from what airline they use or what fast food restaurant they go to. This variety is due to companies having the opportunity to compete with one-another. If the government was the only industry supplying a product, consumers would have no options to pick from. Also, no competition would be available. When there is competition, people have personal incentives to increase their amount of supply and demand. When there is more supply and demand, again more jobs are created and more money is circulating in the economy. Also, more technological advances are proven to occur when there is an increase in competition.
Although Socialism has its benefits that you are equal with everyone else in a monetary sense, you don’t have to work very hard for what you get. I believe capitalism is the best economic system because it strengthens the economy and it emphasizes the message that if you work hard enough for what you want you can achieve anything.
-Tiffany
Person to Respond to 3:
For this week’s forum post I have chosen to write about the second question. For starters I am a big believer in the capitalist economic system, but there are a couple of socialist ideas that I think are mandatory in all societies. For this reason, the model system I vision would have to be capitalism with a hint of socialism. As we learned in our lesson, socialism allows the government to manage the economy by managing workers can produce wealth. The government also reserves the right to redistribute wealth through wages and services. Capitalism, on the other hand, allows the worker to privately own the means to produce wealth without necessarily redistributing the wealth equally among the population. To validate why I think we need a hint of socialism in my ideal capitalist economy, I must explain that I think it is everyone’s responsibility to assist the poor and the widows among our population. Since not everyone believes the same, an effectively controlled Governmental system can be a good tool to assist with this effort. Understandably, this could spin out of control over time but I believe it is the moral thing to do.
Not that I agree, but I believe that the United States economy will fall somewhere in the middle of capitalism and socialism as we move closer to a technology-driven society. It seems that the number of poor and lower class people will increase in this type of society, which will only force our Government to react with socialist programs to counter the impact. We are already starting to see some of these ideas surface in our Government today and we can also see many people in our society migrate to support them. Without proper controls, this might just strain our current system to a breaking point that cannot be recovered without a total reset.
Have a great week.
Very Respectfully,
Clint
Person to Respond to 4:
In the United States there are several factors that contribute to the disparities in health among racial, ethnic, and gender groups. Access and level to healthcare are some of these factors. “The National Healthcare Disparities Report shows that even after adjusting for insurance differences, racial and ethnic minority groups receive poorer quality of care and less access to care than dominant groups” (Agency for Health, 2010). Socioeconomic position and education also play a major role in the disparities. When information connecting habits like smoking to lung cancer and coronary artery disease to bad eating habits came around, the diseases decreased in higher socioeconomic groups and increased in low socioeconomic groups. There needs to be a difference made in how educational initiatives meet the needs of the low socioeconomic groups.
It is not only a medical issue but sociological as well because of the uncertainty of the role society plays in caring for these medical issues. The United States being one of the wealthiest nations in the world offers better resources for health but lacks in providing care to everyone like other countries. Mental disorders and AIDS are amongst the most stigmatized diseases in the United States. Depression, obesity, heart disease, respiratory disease, and diabetes are also higher in the U.S. and are stigmatized by “a direct result of a sedentary lifestyle combined with poor diet” (OpenStax, 2016).
It is different in different cultures and social classes because they have different life styles. High-income nations like the United Sates have diseases like cancer, heart disease, diabetes, and musculoskeletal disorders. Low-income nations mostly deal with infectious disease, lack of water and medical personnel, higher infant mortality rates and sanitation systems (OpenStax, 2016).
-Angela