Busn

Sara Hatter

BUSN 115

Which economic system is best suited for handling a crisis of epic proportions (hurricane, flood, blizzard, forest fire, etc.)? Why? (9 points)

The economic system that is best suited for handling a crisis of epic proportions such as a natural disaster would be the socialism system. One highlight to take note on the socialism system is that the government plays a big role in this system. The government is what controls any dramatic differences between the classes of people. In a crisis situation, the government would be who would distrubute the needed resources to those in need. The government ownership in this economic class focuses mostly on things that are to be considered needed by the common welfare such as; communication, health care, and transportation. This economic system also controls government buildings like schools or the postal service, and in a crisis situation we would be depending on the socialism system to assure that our kid's school would be rebuilt (if it burned down), for example, or that our mail office would be back up and running after a crisis was taken care of.

Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010. (9 points)

The socialist system may be the best when responding to the needs of individuals caught in a natural disaster like what happened in Haiti in January of 2010 because this system is developed to help everyone not matter their class or what is in their wallet. When the earth quake hit, companies like the red cross were out helping the peope in need. Everyone was equally given the same medical and emergancy attention despite anything. The old saying, "from each according to ability, to each according to needs" that describes why socialism is the best economic structure in situations like this. When people are in need the socialism system...