On-Line HW#2 ISMS ($7 max) Now that you are sort of familiar with different economic systems (we call them isms in class), think about what each system is trying to accomplish for its citizens. In 5 sentences or less (penalty for going over), pick the system you would like to live the rest of your life in, and give your reasons why. Have FUN & Learn.

-- Anonymous, February 21, 2002

Answers

I would like to live in a capatalist system because the government stays out of the way and you get to do whatever you want with your money. The only problem with that is that all the money would go to a few big businesses.

-- Anonymous, February 23, 2002

After learning about the different economic systems, otherwise known as the "isms" I can't say that I am totally in favor of one in particular. They all have their advantages and disadvantages. Socialism seems to be a good system, it seems to be an advantage for the people, yet at the same time they get you in the end since they need funding for all of these services someone has to pay for it.

-- Anonymous, February 24, 2002

There is no particular economic system that I would LIKE to live in. Capitalism has its advantages, but the restrictions that are placed on the people by the people need to be recognized. In our democratic government of mostly capitalism and some socialism, we need to realize that we are in control and problems can be resolved if enough people become involved. H. D. Thoreau: “That government is best which governs least…that government is best which governs not at all.” The economic system which I think would be the best is my own version: ABSOLUTE freedom with no government interference at all, but we are not ready for this and may not be in my lifetime or my children’s lifetimes, and possibly not even my grand children's lifetimes.

-- Anonymous, February 24, 2002

I believe i would be happy leaving with Capitalism. I think that there is more oportunity to grow financially as a nation because of the competition between companies (Invisible hand theory), and because the goverment has little or no control over them. All the "isms" have adventages and disadventages it would be great if we could make one ism from the f

-- Anonymous, February 27, 2002

I would choose to stay with our democratic government. I feel Capitalism allows the most individual freedom of choice in terms of schooling, career choice, family, medical attention, and more financial freedom. I can see where socialism has it's advantages, but these advantages would be paid for out of our own pockets. I enjoy the excitement and challenge of knowing I have the freedom of choice.

-- Anonymous, February 27, 2002

I think that I like the socialism system. I like how that system tries to work for the good of the whole country, not just ever man for himself. I think that if people work hard enough that they can get ahead in this system, and those that have a bad run of luck do not go immediately broke and homeless. Its downfall is that you pay for it out of your pocket, but at least it is really there when you need it.

-- Anonymous, February 27, 2002

Now that I know somethings about the (isms), I feel I would like to live in an economy with capitalism. Capitalism only has low gov't control. It is known for the invisible hand and profit motives. There is the different classes of people for example: the poor, middle,and rich classes. So I feel living a society of capitalism you wouldn't be restricted to many things, you could work for what you want and do as you want.

-- Anonymous, February 27, 2002

If I had to pick one, I would choose to live in a socialism system because everyone is taken care of from birth to death. I also like the idea of everyone being in the same social class, so you don't have the very poor and very rich.

-- Anonymous, February 27, 2002

If i got to choose what type of goverment i could live in i would choose capitalism simply because of the fact that the goverment doesnt have as much control the people in which they govern

-- Anonymous, February 27, 2002

If I had to pick a system to live in I would have to choose the capitalism system. I don't think I would like the live in a socialism system place where every thing is taking care of for you. Yes that would be nice not to worry about a lot of thing but what kind of life would you have. I feel that you need to work for things that you won't.If you don't work for anything and just do what every one elas is doing your not following your dreams. Everyone needs to live the life they won't.

-- Anonymous, February 27, 2002

It is a toss up between capitalism and socialism. I like the freedom that comes with capitalism but I like the security of socialism. Since I have to pick one it would be capitalism since that is the system that I am used to and it has low government control and still has some social programs.

-- Anonymous, February 27, 2002

If I had to choose an economic system it would be socialism. You wouldn't have to worry about any medical expenses,because it would already be taken care of.

-- Anonymous, February 27, 2002

Iwould choose capitalist. The reason itis up to every individual to make it. If they don't they have no one to blame but themselves. With everyone trying to make it would create competition and competition is great for the society because owners will attempt anything to attract customers. Also there is still goverenment which people need but it is not overwhelming.

-- Anonymous, February 27, 2002

I am a capitalist all the way, so my ism is capitalism. An economic system based on free market.

-- Anonymous, February 28, 2002

I would stick with capitalism for my "ism". It's proven itself time and time again, and within capitalism I have the best chance of becoming a millionare.

-- Anonymous, February 28, 2002

I would have to say that I am happy with the way the U.S. is ran right now. I wouldn't change it for any reason. But if it came down to it I would probably have to pick socialism because it would help my kids to get a good education and good medical treatment, and also pay for it.

-- Anonymous, February 28, 2002

The Economic system I would most perfer is a blended or mixed system consisting of Capitalism and Socialism. Each system has good and bad traits. I favor Capitalism the most it that it allows it's citizens private ownership of business and control over raw materials which motivates its citizens. Wealth is made or lost by an individuals own abilities, hard work, personal risks and determination. Personal wealth and self satisfaction is a reward of living in a Capitalistic society. Capitalism allows individuals to make independent choices in regards to careers and election of their leaders and laws governing themselves through free elections. Control in a Capitalistic society remains in the most part in the hands of the people. Disadvantages in a Capitalistic society is the inequalities of wealth within the society. Capitalism produces wealth and has poverty within it's society and a great gap between the two. This is why I feel a limited form of Socialism is necessary. A limited Socialistic society helps people in need of social programs and aide. A limited Socialistic society has some government control in that it regulates large business from forming monopolies and keeps business in check with fair labor and practices acts. The government also keeps business in check in that it oversees the fair trade for business and consumers. A limited Socialistic society allows the protection of the environment and resources in that it does not allow total laize faire, but some government intervention. In conclusion, I feel a Capitalistic Society is a good economic system with a limited amount of socialism and government intervention to regulate business and assist the needy. Thank You.

-- Anonymous, February 28, 2002

I would have to choose living in a Capatalism society. The reason is partly because I am use to it and the other reason is that the government does not have such a heavy control that you feel imprisioned in your own society as well as feeling that you owe them something because they supply everything for you for free.

-- Anonymous, February 28, 2002

I, in a way agree with Mr. Henman. I believe that the best government would be none at all. But we, as a people are definitely not mature enough to respect one another enough to live in such a system. So, my second choice may be something like a socialist capitalism. One where the government can only control a few things, be a kind of "parent" to keep things fair. I don't think the government should set up schools or have any say in what is taught in them. They shouldn't run hospitals. Libraries and postal services are ok. There are many things that our government has gotten into that it has no right to be in and these are the contributions to our national debt.

-- Anonymous, February 28, 2002

I would chose to live under a capitalism ecomomy. The reason why I chose this is because we have freedom of action( don't need anyone's permission) to do what we want. Without the help of government we would live in chaos because we wouldn't know what to do.

-- Anonymous, February 28, 2002

i like living in a captitalistic economy but living in a socialistic economy would have better advantages such as not having to pay for medical, and schooling. people in socialist countrys may have to pay more taxes but it would be worth it to get a masters degree in medicine and not have to pay a penny for it.

-- Anonymous, March 05, 2002

I would like to live in a socalist country because of the health benifits. My family has a bad history of health roblems so we have trouble getting health insurance. I am at a higher risk of getting cancer now that I am older that I could relax alittle more if I Knew the expensises would be taken care of if it happened. That is the reason I would like to live in a socalist country.

-- Anonymous, March 05, 2002

I would choose a capiltist society. Because there is no heavy govt. control and I would have freedom of doing what I wanted with my life.

-- Anonymous, April 16, 2002