Barack Obama capitalist values communist values economy. finance ensuring economic growth global recession maintaining a capitalist economy maintaining economic growth News, information, issues, discussions, solutions. News, information, issues, discussions, solutions. people politics relationships taking individual responisbility for the economy the recovery fron global recession understanding the global recession US citizens

Taking Individual Responsibility for the Economy

Posted byExcitingAds34 Comments on Taking Individual Responsibility for the Economy



Given the recent reports concerning proposed economic prosperity for 2011, it was logical that Barack Obama would cite the literature in his weekly address to the US. He identified the positive trends that have been established in job creation and reduced levels of unemployment, and suggested that these figures herald the beginning of a brighter year ahead for the country. His speech was an exercise in accentuating the positive, and an attempt to capitalize on the growing optimism in US society.
Although these reports suggested a level of economic growth that was underwhelming when compared with economists predictions at the close of 2010, there was still clear progression and improvement in the fiscal circumstances. Unemployment dropped from 9.8 to 9.4 percent throughout the last month of 2010, and although it has been suggested that this is due chiefly to the fact that many stopped looking for work during the festive period, the government is keen to assert that this is a portent of things to come.
 

The Wider Picture for the Growth of the US Economy
 It is widely known that the condition of the US economy in 2012 could well be the deciding factor in Barack Obama’s prospects for a second term in office. It is all too apparent that a large and disproportionate amount of responsibility for the economy falls on the shoulders of the president and his representatives, which is especially concerning given the size and capitalist nature of the country. It is arguable that the responsibility for such a diverse economy should be more equally spread, with businesses and individuals being encouraged to take control of their own financial health and well being.

Capitalism is the foundation of the US economy and market, and has been for generations. Capitalism is a evocation of private ownership and entrepreneurship, where wealth is distributed according to status and attainment and those with aspiration can achieve anything that they desire. In an economy that is largely supported by capitalist values, there are likely to be enhanced extremities of wealth and poverty, with the result being that a government has a duty to protect the more vulnerable members of society. To work effectively however, business owners and those that they employ also have a responsibility to assist the government with responsible spending and financial management.

The importance of the US as a world economy and therefore its influential figures is epitomized by the global recession of 2007. As organizations failed to heed the worrying portents in the US economy prior to this date, the subsequent collapse of the US housing market reduced the values of all affiliated securities, creating a global impact on economies worldwide. The consequences are well publicised, and many industry experts suggested that investors and financial lending bodies gravely misread the risk involved with mortgages and mortgage related services. Of course, this sudden economic decline prompted governments to respond with rescue packages that came at the cost of the individual tax payer.

Understanding Roles within a Healthy Economy
 In order to understand the risks affiliated with expansive and capitalist economies, governments based on communist principles act as a useful comparison. Communism is interested with an equally proportioned wealth distribution, leading to a society without class distinctions that is supported by its members who labor to produce mechanical and agricultural produce. The shared nature of wealth and responsibility means that while countries governed by communist values are not prone to excess wealth or prosperity, they are also less likely to incur instances of poverty and those seeking welfare and financial assistance.

While it is ridiculous to suggest that the US should adopt communist values, the example acts as a good model with which to understand differences and areas of concern. In a communist society everyone understands their roles and the overall aspiration of a nation and economy, whereas the lines of responsibility are less well defined in capitalist countries. This is where issues occur, and it is important for a government to encourage individual responsibility with regards to their own role in assisting a generative and well founded economy.

The UK Prime Minister of the 1980’s, Maggie Thatcher, preached the values of financial independence in society. The argument is an excellent study in business and workforce members taking control of their own finances and conduct to contribute to a prosperous economy, and suggested that if each individual, family and business owner took responsibility for every aspect of their financial well being and education, then the overall concepts of society and economy take care of themselves. This ethos still allows the development of wealth and aspiration, but also reduces the burden on governments and helps to define the role of contributors within a society.

All Shop


You May Also Like

34 thoughts on “<span>Taking Individual Responsibility for the Economy</span>”

  1. Hi, I would to let you that I have found this article to be really helpful to me. I also have a quick request for you, would it be Ok if I were to send a couple of my own interesting topics for other members to read. Please get back to me, thanks Kyle

  3. Hey, I searched for this blog on Bing and just wanted to say thanks for the excellent read. I would have to agree with it, thank you again!

  4. In no way permit somebody to become your priority whilst allowing oneself to be their alternative. Excellent Submit!

  14. First of all I care for the quality of your post. That was interesting to read and helpful article. And Im lookin’ forward to see your next thinks.

  17. The layout is what really caught my eye, then the i looked at the writing and i think you did a very nice job. Good work:)

    1. Am delighted to hear that you are subscribing to our daily blog, and also that the content is to your liking. Your support is ultimately appreciated.

    1. Thank you for your kind words, we appreciate you taking the time to read and appreciate our blog. Please subscribe to our RSS feed if you wish to be kept updated with our blog posts.

  20. When I firstly saw your web, I’ve been around in many pages that I’ll use to get my final assignment. I googling with my short idea in my brain, and then I met with useful article. I hope you can give several advices to me, because your knowledge is great, it can help many students to get great score in every task or project. If you don’t mind, I will contact you to make short discussion for my project. I write my short comment for you to give support for your site; my friends had used your article as reference in specific term and condition. After that, my friends are satisfied with your article (I’ve given reference to read many pages in your site). We can make other discussion later, because it will be worth to me. Thanks in advance, hope you contact me, so we can broaden our knowledge together.

    1. I would be delighted to discuss these topics with you further, and am delighted that you have found our information useful. Do not hesitate to contact us if you require any further information.

    1. There is a facebook logo at the top right. Click on that logo and from there you can share it with your FB friends. You can also use FB logo in left sidebar.

Comments are closed.