"Individuals living in capitalist economies suffer a higher degree of personal risk than in other types of economies. Creating regulations that protect a society can’t help but interfere with free market forces, a basic tenet of capitalism."
From your perspective, how accurate is the above statement? Support your position with reasons and/or examples from your own experience, observations, or reading.



Individuals living in capitalist economies suffer a higher degree of personal risk than in other types of economies. Creating regulations that protect a society can’t help but interfere with free market forces, a basic tenet of capitalism. I totally agree with the fact that individuals living in capitalist economies suffer a higher degree of personal risk. The whole idea of capitalism is to make money, at any cost. Even if it interferes in people's daily living standards, money is given more priority.

Capitalist economies encourage businessmen in every way possible to make as much money as possible, employ as many people as possible at the cost of say public health, or public discomfort. If one opens a business in a crowded area wherein trucks need to constantly come and go, and children are deprived of their parks because employees use it to relax during breaks, it would not be curtained. Even if one holds an industry in the heart of the city releasing tonnes of smoke into the atmosphere, it would be encouraged at the cost of general public's health.

Keeping regulations for business does act as a deterrent for new entrepreneurs but is always in public interest. It is important to lead a good life, and not just a rich life. Money is essential, but not at the cost of ones own health or convenience.

On the other hand, I am not a socialist either. I don't believe that a hundred hectares of land should be equally divided amongst the 1000 living there. It is very important to work and earn. There must be an incentive to work. Thus, I am a strong believer of a mix of capitalism and socialism to provide a true Utopian world.

Hi, thanks for posting your essays! Just an FYI that instructors don't grade or give feedback on essays (see the forum guidelines for details).

But I certainly hope other community members respond. Also, if you're in our class, you'll have an opportunity to get essays graded and get written feedback during the course (after class 6). Finally, you can get essays graded by GMAT Write (the official essay grading service from the makers of the exam) - they'll both grade the essays and provide feedback as to how to improve (for a fee). For details and pricing, go to www.mba.com and search for GMAT Write.

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Stacey Koprince
Instructor
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ManhattanGMAT