benefitingpublicgood.docx - Running head THE PUBLIC GOOD 1 Benefiting the Public Good Stephanie Mattessich Chamberlain College POLI-330N Political

benefitingpublicgood.docx - Running head THE PUBLIC GOOD 1...

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Running head: THE PUBLIC GOOD 1 Benefiting the Public Good Stephanie Mattessich Chamberlain College POLI-330N: Political Science July Session 2019
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THE PUBLIC GOOD 2 Benefiting the Public Good Capitalism is “an economic system in which individuals own the means of production and can legally amass unlimited personal wealth” (Magstadt, 2017, p. 31). The ideology of capitalism is that the government should not place restrictions on economic activity (Magstadt, 2017). Capitalism uses supply and demand to regular economic activity. What is known as the private sector, which consist of businesses and consumers, make decisions about “production, employment, savings, investment and the like” (Magstadt, 2017, p. 31). “In a capitalist economy, promising growth sectors attract money” (Herzlinger, 2004, p. 353). Even healthcare has become part of the private sector, with competition between insurance companies, hospitals, and health care companies. Power in Capitalism In a capitalist theory, the private sector holds power in economic activity. Most of this power belongs to big business, and especially rich people in big business. While consumers share
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