Economy stability, standard of living, labour laws and disparity of wea

Economy stability, standard of living, labour laws and disparity of wealth and product. Flowers are beautiful. Flowers can grow in the wild, alone, with only nature affecting their growth, or they can grow in a greenhouse, where all their conditions are controlled. With either option we find different effects on the flowers. In nature the environment can destroy the flower, but the flower in the greenhouse lacks natural nutrients received by the outside world and usually become withered. This can be related to government control within the economy. With too much control, the economy can become smothered and with not enough, it can collapse upon itself, therefore a healthy balance must be found. This brings up the issues of economy stability, standard of living, labour laws and disparity of wealth and product. On the right side of the spectrum we find capitalism. Capitalism is an ideal of free trade with no government involvement in the economy. It was created by Adam smith, and exercises the theories of laissez faire. Although in a capitalist economy the economy can see great times of boom or bust. Monopolies are also prevalent within these societies because there are no laws against such things. On the left of the spectrum we find socialism. Karl Marx created this concept. His was an ideal of scientific, where he stated there would eventually be no class, and a pattern would be followed in the economy. Another form of socialism is utopian created by Robert Owen. Owen believed the same concept, but he believed through providing more he would get more in return. This however did not happen because the workers ended up becoming lazy when they were guaranteed the things they needed. Socialism follows the ... ...risk the consequences of the abuse of people, poor quality goods and lack of advance in products. But if you have too little you face booms and bust, disparity, and an unstable economy. Finding equilibrium of the two extremes is a problem that nations struggle with constantly and a popular choice of many, including the successful Canada, is welfare capitalism. It's the best choice because it promotes the ideals of both capitalism and socialism. The spirit of capitalism with its free trade and market economy with advancing products and aggressive markets and the control of socialism with state programs like healthcare and unemployment coverage, education taxing and the regulation that government can provide. So when asked the question, to what extent should government be involved in the economy an impeccable answer that comes to mind is welfare capitalism.