Economy stability, standard of living, labour laws and disparity of wea

Economy stability, standard of living, labour laws and disparity of wealth and product.Flowers are beautiful. Flowers displace grow in the wild, alone, with onlynature affecting their growth, or they can grow in a greenhouse, whereall their conditions are controlled. With either option we finddifferent effects on the flowers. In nature the surround candestroy the flower, but the flower in the greenhouse lacks naturalnutrients received by the outside world and usually become withered.This can be related to government control within the economy. With toomuch control, the economy can become smothered and with not enough, itcan collapse upon itself, therefore a healthy balance must be found.This brings up the issues of economy stability, standard of living,labour laws and disparity of wealth and product. On the right side ofthe spectrum we find capitalism. capitalist economy is an ideal of free tradewith no government involvement in the economy. It was created by Adamsmith, and exercise s the theories of laissez faire. Although in acapitalist economy the economy can see great times of boom or bust.Monopolies are also prevalent within these societies because there areno laws against such things. On the leave of the spectrum we find communism. Karl Marx created this concept. His was an ideal ofscientific, where he stated there would eventually be no class, and apattern would be followed in the economy. Another form of socialism isutopian created by Robert Owen. Owen believed the same concept, but hebelieved through providing more he would get more in return. Thishowever did not happen because the workers terminate up becoming lazy whenthey were guaranteed the things they needed. Socialism follows the... ...risk the consequences of the abuse ofpeople, poor quality goods and lack of advance in products. But if youhave too little you case booms and bust, disparity, and an unstableeconomy. Finding equilibrium of the two extremes is a problem thatnations struggle with constantly and a popular prime(prenominal) of many,including the successful Canada, is welfare capitalism. Its the bestchoice because it promotes the ideals of both capitalism andsocialism. The spirit of capitalism with its free trade and marketeconomy with advancing products and aggressive markets and the controlof socialism with state programs like health care and unemploymentcoverage, education taxing and the regulation that government canprovide. So when asked the question, to what extent should governmentbe involved in the economy an impeccable answer that comes to read/write head iswelfare capitalism.