Capitalism - may take advantage of lower class 3 No I...

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Joe Littman BUS 101 CC Capitalism 1. No, in a pure capitalist economy there are no government regulations of business and in the US we have regulations, such as minimum wage and child labor laws. 2. No, in a pure capitalist economy people may be subject to immoral treatment, such as really bad working conditions, if we had a pure capitalist economy there would be no regulatory agencies to ensure safe working conditions. The advantages of a pure capitalist economy are the means of production will end up in the hands of the most productive and “strongest” workers. The disadvantages are there may be a growing distance between the two classes and the upper class
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Unformatted text preview: may take advantage of lower class. 3. No, I believe the economy operates in cycles and when the economy “tanks” it is essentially correcting itself to allow for more growth. Government intervetion in the process only slows it. 4. The advantages of no government regulation are that the strongest companies will operate the longest so the economy is making the best use of its capital. The disadvantages are that if the economy is left alone businesses will seek to create monopolies to control price and pay as low as possible wages....
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This note was uploaded on 12/28/2011 for the course HST 112 taught by Professor Winkler during the Fall '08 term at Miami University.

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