"Everyone is always in favour of general economy and particular expenditure."

          An ideal ideological perspective regarding economic system, including individualism and collectivism, involves group efforts but focuses primarily on the individuals' gains. Contrary to classical liberal economists such as Adam Smith and Friedrich Hayek, I believe an ideal economic system involves government intervention in order to protect workers’ rights and create regulations such as minimum wage and safety codes. Government involvement in businesses’ affairs is also integral in the name of environmental preservation; in order to protect the environment we depend on, regulations must be made to prevent producers from doing whatever they wish. Although a mixture of both individualism and collectivism is necessary, the precise combination of these elements is crucial. The principle of collectivism is beneficial in that it promotes unity and nationalism while working for the common good. Citizens who are unable to contribute are provided for, and

poverty becomes less of an issue than in free-market economies. However, because extreme collectivism equalizes everyone and decreases the successful citizens’ incentive to work hard, individualism is an effective value that overcomes the disadvantages of collectivization. The profit motive, as well as the individuals’ will to work hard and earn the lifestyle they desire, drives the economy and society prospers. A system in which individualism plays a larger role than collectivism is necessary in order to promote prosperous economics and notable development of society. If collectivism overpowers individualism, work ethic and the desire to advance in society will deteriorate. However, intervention in the economy is essential in small doses so that the government steps in and publicly collectivizes goods and services that are deemed necessary to live.

   

“The wise and correct course to follow in taxation and all other economic legislation is not to destroy those who have already secured success but to create conditions under which everyone will have a better chance to be successful.”—Calvin Coolidge



the poverty of capitalism

  

          In the model economy, citizens are equalized in terms of basic needs. People who earn more financially contribute more money toward taxes, for example, in order to provide for those who cannot provide for themselves. My ideal economy is similar to Canada’s: there are varying levels of wealth in Canadian society and everyone works toward the lifestyle they prefer, yet no one is “rock bottom”. The government directs that all citizens pay fluctuating amounts of taxes and our standard of living is maintained. However, Canada’s economy thrives because the profit motive plays a central role in businesses’ minds. Emphasis on individual gain is integral to a prosperous society, yet collective effort that supports those 



a collectivized farm in USSR

that cannot provide for themselves is crucial. The USSR shows today’s leaders the shortcomings of a completely collective society—a drastic decline in incentive to work, as well as public distress with authoritarian rule. The United States portrays the negative effects of a completely individualistic society—many citizens are not cared for to a satisfactory degree (for example, with privatized health care, many do not receive the health attention they need to survive).

            Although all citizens must be cared for via government support and regulation of businesses, society can only advance, thrive, and flourish if its individuals do so first.

“Under capitalism, man exploits man. Under communism, it's just the opposite.”—John Kenneth Galbraith

           On the traditional political-economic spectrum, my ideal system of a nation involves nearly complete political freedom, with equality of all people and freedoms including free speech, peaceful assembly, religion, suffrage, and more. However, citizens are not free to impede on other citizens’ rights and freedoms or the environment’s sanctity.

            Economically, right-of-center values are adhered to. Individualism plays a central role in the economy, but small government involvement is necessary in order to provide basic necessities for everyone. Government also works to introduce regulations, such as safety codes in the workplace and environmental standards. In addition, goods and services deemed necessary for survival and advancement of society, such as healthcare and education, are publicly owned to ensure universal accessibility.

“The only society that works today is also one founded on mutual respect, on a recognition that we have a responsibility collectively and individually, to help each other on the basis of each other's equal worth. A selfish society is a contradiction in terms.”—Tony Blair