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+--- Thread: In regard to social responsibility, which economic system is the most ethically responsive? (/thread-7642.html)
In regard to social responsibility, which economic system is the most ethically responsive? - Annoyingmorning669 - 10-12-2012 08:30 PM
A. A centrally planned economy, becuz the state can enforce morality
B. Capitalism
C. Commmunism ensures equal results for all.
D. A free market economy based on capitalism, steered by ethical people, is the most agile economic system ever concieved.
- Anjaree - 10-12-2012 08:38 PM
I would go for D. In fact,it's called a social market economy developed the Freiburg school in Germany which Hayek has also contributed to it.It has been the main contribution to the economic miracle in Germany after the second world war.
- Blowice Hao - 10-12-2012 08:38 PM
In regard to social responsibility, i will choose C. which is the extreme case of risk sharing among people equally within the society. (its kind of like everyone have a insurance policy by default for free...even though, the performance of the insurance company(the government) would be poor, and the resource to allocate on each individual would be very limited)
the problem with Communism though, is the lack of poductivity and lack of efficiency. that is why traditionally, the communist countries are always poor.
- DoILiveInOz - 10-12-2012 08:38 PM
I would say they are looking for D. However, the phrase "steered by ethical people" seems to imply the people in private industry are not ethical... I would call this a biased answer. Usually those in government are less ethical because they do not have to pay the consequence for their mistakes most of the time.