Submitted by: Submitted by jennifer369
Views: 82
Words: 626
Pages: 3
Category: Business and Industry
Date Submitted: 09/19/2014 10:29 PM
DeVry University
College of Health Sciences
Pomona, California
ECONOMIC SYSTEMS AND LAW OF SUPPLY AND DEMAND
By
Jennifer Alvarez
Alvarezjennifer369@gmail.com
Submitted in Partial Fulfillment of the Course Requirements for
Intro to Business and Technology
Busn-115
Professor Khosrowshahi
September 7, 2014
Socialism and Crisis
In an event of epic proportion the economic system which is the best-suited would be the Socialist economic system. Socialism with its Non-profit organization, in-between state ownership of certain resources makes it the best-suited. In this form of economic system there is no delay within the government to take fast-action and begin recovery soon as possible. The Socialist economic system is the best in this situation. This has been proven in the devastating earthquake in Haiti.
Socialism has had a history of bad events and it is well known that all the economic systems as a whole cannot function or benefit all members of the existing society. One thing the socialism has in benefit to an event of epic proportion would be the Non-profit organizations. Usually seen in these events the Red-Cross, Salvation Army, amongst many others head out almost immediately to help begin recovery because waiting around for the government to call action is not in order. For a fast-recovery within a Capitalistic or Communistic government action is taken or waited upon from ruling government. Which ultimately leads to a delayed recovery because in both economic systems, Capitalism and Communism, major resources are either state-owned or has private ownership.
This theory has been proven in the event that happened on January 12th 2010 in Haiti. Haiti an awfully impoverished country in the Caribbean suffered a catastrophic...