How Do Different Economic Systems Affect Quality of Life

Topics: Economic system, Mixed economy, Planned economy Pages: 2 (523 words) Published: May 28, 2013
How do different economic systems affect quality of life?

The mixed economy gets the best of both worlds. I believe that the planned economy is a last resort and a not smart idea. My reasoning behind this is the fact that the government should not have full control over the economy, but I believe the citizens should have a voice, and that voice should be recognized. When the economy is a mixed, citizens have a voice, but so does the government.

In my opinion, I think that the mixed economy is by far the best idea. The main reason I am stating this point is because 1) The free market still has competition to improve the product as well as set prices, while the government can intervene to make sure these products aren’t harmful, like put lead in their products. 2) Market prices are very well positioned and regulated to ensure that the price of the product on the market does not go over its limit, or it’s actual price. 3) It provides fair competition in the market, and the quality and quantity of the products being sold are not compromised.

When the free market still has competition, it means that the people that are running the company, or the people that own it have a say in what is being done to their products, but so does the government. I think that this is a very fair option for the economy, all over the world, and every one can benefit from this. The governments job is to make sure that nothing is being sold that could cause harm to anybody, including kids. In the past, products that have been sold on the market economy have been recalled, because of different harmful things. Most recently, lead has been recalled in many different things, including hockey sticks and toys. The governments job is too cease these harmful objects and replace them with ones that can’t cause any harm.

Most countries in the world at this point are ran by a mixed economy, because in a mixed economy, one person or the government does not own everything, as I stated...
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