My Economic POV


In my opinion, the ideal economy would have socialist values of collectivism, as well as an element of capitalism, because people will not be motivated to do well at their work and to work hard if there is not incentive. I believe that when a person works harder, they should be better paid. However, capitalism on its own is not healthy, because people become selfish and trample each other to gain more power and wealth.
“Capitalism has destroyed our belief in any effective power but that of self interest backed by force.”

~ George Bernard Shaw

I believe in a mixed economy; a combination of market-directed economic aspects and those of centrally planned economies. I believe that businesses should be allowed to govern themselves, but to an extent. The government should have regulatory oversight to ensure that no business becomes a monopoly, that owners are treating their workers properly, and that they are respecting the environment. Capitalism often infringes on human rights, and having government involvement can help make sure that doesn’t happen. Corporations should not be allowed to sway politicians with endorsements. I believe that everyone in society should be given a fair chance to make a comfortable living, but that there should be a social safety net for those who cannot.
"Liberals are not unconcerned with economic liberty, but they have come to believe that the common good requires that social justice be given a higher priority than absolute economic freedom."

~Robert S McElvaine

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