Joined: 31 Dec 1969
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Concentration: Entrepreneurship, International Business
WE:Supply Chain Management (Energy and Utilities)
Please Grade/comment/suggest on my AWA ESSAY: Analyze Issue
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15 Jun 2011, 16:46
AWA ESSAYS: Analyze Issues
ESSAY QUESTION:
"The purpose of government is not to ensure the financial well-being of its citizens, but rather to maintain order."
From your perspective, how accurate is the above statement? Support your position with reasons and/or examples from your own experience, observations, or reading.
YOUR RESPONSE:
The purpose of government is not only to ensure the financial well-being of its citizens, but also to maintain order. Regardless of the market type, government must intervene to protect its people. Some capitalists may support this statement because their main focus is profit making. However, I strongly disagree with the premise.
The main reason government is formed is to represent its citizens. This means a citizen should have confidence that government decisions are for his or her well-being. Essentially, the financial stability and the order of a country go hand-in-hand. The financial stability of the people is used as a universal measurement of a country's order and progress. For example, a few years ago America declared that it was undergoing a crisis. The Crisis stemmed from financial mishaps such as the Ponzi Scheme that was practiced by Mr. Madoff (former NASDAQ employee) and jeopardised Lehman Brothers and Goldman Sachs. Also, the conveniences and loop holes because of technological advancements made application of laws and other consequences protecting citizens increase at a slower rate than the tricky trading and exchanges of securities.
Government needs a healthy, educated and prosperous set of citizens. The more the citizens are healthy and educated, the easier it is to maintain order. People are more self conscious and responsible because they now know better. Healthy educated people are less idle and find more utility in employment and productivity. Essentially, healthcare and educational facilities need to be affordable. It is a major risk of the country not to invest in the well-being of its people.
Overall, had there been no effort from government to protect the financial well-being of its citizens countries, similar to America, would not be rebuilding itself from the explotation of corporations, especially when they find a loop hole in the laws that ought to maintain order.