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  • Essay / A comparison of three book resources on capitalism

    The first source is a quote from Ayn Rand and the extent to which capitalism should be adopted in the economy. The quote highlights the importance of the need for the economy to adopt a much more radical form of laissez-faire capitalism. The sources show the importance of the separation between government and the economy. “With a separation of state and economy, in the same way and for the same reasons as the separation of state and church. » The source quote shows Rand's support for an economic system without any government involvement. The ideology presented in the source is said to be consistent with that of philosopher Adam Smith and his belief in a free market economy, to its strongest point. The source would also agree with the policies implemented by US President Ronald Reagan under his Reaganomics economic policy, where the government tried to have as little involvement in the economy as possible. Rand's ideology favors many individualistic characteristics throughout the economy, without any collectivist traits such as welfare and other social programs. The source states that such economic ideologies have never been fully realized because there has always been a government safety net, preventing a completely unregulated economy. Rand's economic ideology would be based entirely on people's self-interest and individualism, where the consumer would be able to buy what they want from whoever they want and businesses would be able to sell what they want to whomever they want. they want a system without any government intervention. The source also asserts the necessity of capitalism for the future of humanity to survive, going far beyond the principles and ideologies of Adam Smith and the classics...... middle of article... ...the first source and illustrates what can happen when an ideology like Ayn Rand is implemented. The cartoon implies that an economic system without government involvement can lead to economic destruction without a plan B during a recession. Sources two and three can be linked to their agreement that an economic system that follows collectivist ideologies significantly strengthens an economy much more than an economy that follows individualist ideologies. A system that allows a country to work as a team rather than against each other, as the second source shows, and provides a safety net in times of recession, as the third source shows. The three sources taken together show the different perspectives on the extent to which the economy should embrace collectivism and individualism. Everyone has their own vision of how to most benefit the country's economy and people..