About this sample
About this sample
Words: 724 |
4 min read
Published: Feb 8, 2022
Words: 724|Pages: 2|4 min read
Several debates have arisen on how far the government should interfere with the economy. While every country must have an economic system, they have a reasoning behind the system, the form of government. To some people, government intervention in the economy are considered significantally necessary to protect against the worlds worst elements such as poverty, discrimination, and public safety to name a few. While on the other end, many think that such regulations are unnecessary and actually an invasion in one's freedom.
When discussing to what extent should the government get involved with the economy, I personally think the government should take a limited role in the economy. When the government gets involved in facing issues it ends up having more cons than pros. For our economy to succeed it needs to be left alone and free. For example, any business has an end goal, which is to make money just like the economy. Think of it in ways as in order for a business to strive and survive long term you must make money. When income is being generated by the government it can create a domino effect one way or the other. If the economy fails to fulfill the needs and wants of the country, it will fail. However, if the economy just stood alone without any interference from the government it will make it work that much harder towards higher objectives.
The economy greatly affects all lives across the country, without many of our say, but nonetheless is the main influencer. It influences in how easy it is for one to get a job or not, how quickly the prices of goods and services fluctuate from high to low in a market system, and how much money people can spend or save. I see it as if the government interferes it will eventually become an ongoing obstacle as to what an economy is striving to reach, which is revenue. The government wants to tax on everything since they say that businesses don’t pay enough towards the lower income people of the country. But in reality all that is doing is taking money from these businesses that they do not have which ends in inflation. Another example is minimum wage, while minimum wage only affects small businesses they are still always seeking for ways to reduce costs, and the obvious conclusion to that is minimizing the wages or salary. In result, people that are skilled are more likely to get hired then unskilled people therefore creating unemployment in the economy.
These interferences can create economic benefits, but also causes problems in welfare. And as mentioned earlier that the economy of a country will only be successful, if and when the government does not intervene in the best interest of the economy, which is revenue. With facing issues such as poverty, this goes to show the economy is able to perform without the government. Therefore, I affirm that the government should have limited interference with the economy.
As a young adult currently enrolled into college I and many others have one goal and that is to be successful. Whether that be to some just getting an education, being able to support themselves and family, or becoming a millionaire. In means of public education and achieving equal opportunity for all I find that substantially true. I say that because majority of lower income students are not enrolled into college simply because they just can’t afford it. While there are several reasons as to why this disparity exists, however it’s no surprise that the students that come from high income backgrounds have an advantage when it comes to seeking higher education from basic grade school. Of course, we can’t blame these students from jumping the bullet and taking the opportunity to higher education. The problem is those who start from the bottom never get these opportunities. Many people can go back and forth on what equal opportunity is and what it means to them and how it should be. But all in all it to me, it should mean fair income regardless of your gender, race, religion, beliefs, values, or sexual orientation. But this also means equal opportunity in public education. You are not just given an education, or job just because, but being guaranteed a job or education regardless of whether you come from a poor wealthy background.
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