Sustainable Management Futures Essay Example | Topics and Well Written Essays - 3000 words - 2

Sustainable Management Futures - Essay Example But the main concern that is being asked by the people is when the economy will find the smooth path that is when the economy is expected to work according to the anticipations. The government must aim to attain higher growth than just making policies to deal with the storms that can affect the international economy. The Prime Minister believes that a better economy can be build under the current regime. According to him, human wealth and happiness can only be improved through open markets and free enterprise. The system of open market as well as and the free enterprise regime will generate progress to lift the people out of poverty and lay down the path of innovation. Open markets and free enterprise acts a bridge between contribution and reward. The idea of market that was presented by him is of something for something. This idea needs encouragement rather than condemn. Therefore, one should use the crisis of capitalism rather than undermining them. As the economy has experienced t he situation before, so the strengths and the weaknesses of the free market regime are known. All are certain of the situations where market works and where it fails. The prospects of globalization can slide into monopolization. Such situations will drive the small and the local players out of the market. Two problems can creep up in open market regime. The first problem that can creep in is vision of social responsibility and the second problem is the one of popular capitalism which allows all to share in the success of the open market. According to the minister, the previous government did not take the requisite steps to regulate capitalism. He opined that labor either went towards socialism or embraced capitalism. They did not realize that capitalism has negative aspects too. He declared that Tories have the capability to understand capitalism better and know how to deal with the worst excesses of the system. Capitalism can also be the resultant of loss of moral choices. An examp le of the banking system can be taken into account. Many people think that time calls for do something for the associated corruption and greed accrued in the banking system. One thing that is frequently missed by the people is that capitalism requires free market. The price and the quantity are determined by the market itself. The presence or absence of government can give rise to more economic problems. The government may not take the necessary steps and then blame the economic system. The politicians cry for regulations and continue to expand their power at the expense of the people. The time has come for involvement of more people in a genuinely popular capitalism. The last government claimed to get out from the boom and bust but what it really did was allowed the economy fuelled by debt to get out of control. The serious imbalances between the financial and manufacturing services were the resultant. The initiatives encouraged the debt to crop up higher as it needed to pay the ri sing costs of welfare. This paved the way for market failures. The previous government left all with a share of debt. People became concerned that they will lose purchasing power and the whole system lost confidence. The whole system ended up with