Prepare a Two- to Three-Page Paper in Apa Style, Sixth Edition Format That Describes, Explains, Addresses, and Answers the Following Questions or Statements. Which Economic System Is Best Suited for Handling a Crisis of

Best Economic System to Natural Disasters

When a country hits by natural disasters, such as hurricane, flood, blizzard, forest fire, earthquake, the socialism system should be a better choice for such circumstances. Before looking at an example to demonstrate why this is a better choice, let’s take a look at what is socialism. Socialism is an economic system based on the premise that some, if not most, basic businesses (e.g., steel mills, coal mines, and utilities) should be owned by the government so that profits can be more evenly distributed among the people. The main idea is to build a strong government which control the basic business to build the country under the control of the government, and make sure that people with less resources are well taken care of. Ideally it comes about because the government takes income from wealthier people, in the form of taxes, and redistributes it to poorer people through various government programs.

The following example demonstrates why socialism is better when natural disastrous strike. In 2008, tens of thousands of people lost their homes after an 8.0-magnitude earthquake devastated more than 100,000 square kilometers of land in China's Sichuan Province. Miraculously, in a short period of three years, remarkable achievements have been accomplished in post-quake reconstruction and the lives of most victims have returned to normal.

There is a growing consensus that the socialist system is a key contributor to the miraculous recovery. Time magazine reported that a strong central government, rapid economic growth and great assistance from relatively developed areas were China’s advantages in post-earthquake reconstruction.

The government acted first to help with the post-earthquake reconstruction. First, the socialist system can help a country concentrate efforts and resources on major tasks. One of the most important disaster response strategies of the Chinese government is to mobilize the entire country to help...