The essay is about the pros and cons of various economic systems and the governments influence within them. The title can be stated as: To what extent should the government regulate the economy ?
Date Submitted: 05/02/2002 11:19:25
Category: / Business & Economy / Economics
Length: 6 pages (1609 words)
Category: / Business & Economy / Economics
Length: 6 pages (1609 words)
In a public enterprise economy, the government has the power to nationalize any or all industries which can lead to devastating consequences. One the countries famous for doing this was the Soviet Union. Joseph Stalin, the then dictator of the Soviet Union instituted two domestic policies that would eliminate any capitalism in Russia. He would institute rapid industrialization and the collectivization of agriculture.This would be known as the Five Year Plan. Stalin wanted to …
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…during the 1880's to the 1900's allowed for this massive monopoly to form and utterly crush all competition. When a society has monopolies like this leading a sector of it's economy, nothing but abuses and sabotage can happen. The government should have intervened more during that period to prevent Standard Oil from growing to be that big. There was definitely too little involvement by the government and it should not be promoted in any economy.
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