Country X is a capitalist country. It is capitalist because it has an economic system whereby private people, not the government own and run the companies. These companies are in competition with others for business opportunities. In terms of power, these companies have the deciding power over what they wish to produce, in order to make profits for their owners. This capitalism will be grounded on the concept of free enterprises. The concept argues that the intervention of the government of country X in the economy should remain under restriction and a free market based on demand will enhance maximum customer welfare. Various features have characterized country X government, and they are as described.
The economy will be run by individuals who operate private companies. Decisions on resources utilization remain the obligation of the individuals or those who own the companies. In this society, treatment of companies follows the same laws as individuals. That is these corporations can be sued or sue, sell and buy properties or they can undertake exactly the same actions like those done by individuals.
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Under capitalism movement, almost all companies live by the profit motive. This means that they exist to make a profit. As the business starts enjoying large scale of economics, they go out in search of managers to hire who may not have any stake ownership in these firms. Under country X’s government, the key goal will be to maximize the shareholder wealth as well as the stock of the firm.
It is clear that the government will ensure that there is the availability of a level playing field. This field privately runs the companies by imposing rules and regulations. The potential abuse in an industry will constitute the amount of governing laws and regulations in the industry.
Another key feature of country X’s government is that private household needs goods. These goods are those that they buy from the income they have, in a government the level of income is not the same. Companies and business offer private household goods and services. They produce goods that they think that consumers would wish to buy and in order to achieve this; they need labor to work it out and form the supply side of the economy. It is important to note that in capitalism enterprise freedom leads to more and more antagonism, which ultimately results in competence of industrial units and production of goods at low costs. This contributes a lot to the growth of the country’s economy.
Finally, households as well as companies mingle at the markets. Here, there is the exchange of goods, services, and labor attainability. In the capitalist society, the supply and demand determine the prices of goods, services, and labor. This means that if a demand on a certain product is high its prices will be hiked.
There are many different aspects in the capitalist socio-economic method especially in country X. It is clear that we purchase labor for money wages. Capital gains accrue to private owners whereby we put the price mechanism under the utilization of capital goods and uses. The people extensively utilize the market with no or minimal pricing mechanism regulation. Markets continue to play a dominant role in mixed economies, which is a method of correcting market failures whereby in the end promote social welfare.
In terms of social classes, there are two distinct classes of people in the capitalist economy and these are the workers and property owners. The workers receive wage or salary. The owners who are financial, capital suppliers receive profits generated by these factors of production working in the production of economic value.
The gender roles in country X show that it is a requirement and expectation for men to contribute more to the economy. However, women have also been given the responsibility of providing the family by contributing financially and domestically. Capitalism has some impacts on the roles of gender and relationships. Both men and women have a necessary role to play in society. They are both responsible for financial and domestic decision within the household. Women show experience in generating income from other means. These means include agricultural works that are versatile than men in a capitalist country such as country X. Therefore, both men and women hold an equal position in their contributions to the economic growth even loosely wage labor economies.
The people in country X value and have taken care of the schooling system that will be reflected more on the labor market. There is an internal groundbreaking in social education where internal schools correspond with internal organizations. These represent the capitalist workforce in terms of structures, norms, as well as values. The hierarchy in schools will reflect the structure of the labor market. This means that people perceive the head teacher as the managing director and pupils will fall lower. The discipline of the pupils reflects the one shown by the lower level employees. The education in country X mainly focuses and provides knowledge on how interaction in the work place gives direct preparation to the students for entry in the labor market. Additionally, it is clear that country X’s government values education as it acts as the long shadow that the workforce cast. Although schools reproduce existing inequalities, by rejecting availability of equal opportunities for all in country X.
Most qualified managers on these ideologies become the private owners of the companies and end up running the companies. They are the key decision makers under this government. These professionals help in the means of production by utilizing the available resources to run the available industries. It is clear that because these professionals have worked hard they manage to rise the ladder.
In the country X, the government has a role to play and their classifications are under the following factors. Nevertheless, it is the role of the government to ensure that it provides goods and services the society needs. Public goods and services are required in the society to everyone benefit whereby the private sector has nothing to offer. Some of these goods include public defense from border extending inwards. Other public goods include the highway, clean air and water as well as public education. The government provides public goods by administering the budget and overseeing the delivery of goods.
The role of the government is to ensure that it involves itself in the issuing of currency, levying taxes, and borrowing money by providing government securities. Such activates by the government aim at stabilizing the economy and ensuring a significant growth.
Finally, it is the responsibility of the government to ensure that it maintains economic order stability as well as growth. This is a way of maintaining order and growth in the economy. By so doing, the government prevents economy disorders, which may result into social unrest and political upheaval. This in the long run will ensure that there are employment opportunities and reduce or no cases of unrest. This will give the country power to defend itself from attacks and invasion. The government should ensure that it protects its economy and domestic market from foreign competition by levying tariffs as well as erecting other barriers to trade.
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