Models of Government and Business

Topic: Business Controversies
Words: 290 Pages: 1

I would say that American society today is characterized by the market capitalism model. Competition is seen as a sine qua non and driving force for development. The basis of business ethics and the regulatory system is considered the creation of conditions for the competition of all economic agents. The competition itself is regarded as the basic principle of economic development. Despite the increased attention to corporate social responsibility over the past two decades, profit is seen as the primary indicator of its success, outweighing all others. In American society, the state is viewed as an external force that develops regulation rules and resolves conflicts that the business community cannot fix. There is a strong tendency towards self-regulation of business for American society and support of national companies in international markets. State intervention in the economy as an economic agent is strongly discouraged.

The market capitalism model that now dominates in America should be recognized as the preferred model since it has several advantages. Due to such a model, market freedom and freedom of competition are ensured, contributing to the state’s economic development. The business operates according to economic laws and not as a result of violent government intervention. A free market can satisfy the demand of potential buyers by improving the quality of goods or services. He develops initiative and creativity in the process of creating and promoting products. However, this model also has its drawbacks, in particular, within the framework of the functioning of the free competition market, the main focus is only on making a profit. Market participants sometimes do not comply with the rules and norms of behavior in society, do not care about the environment, the health of citizens, and the preservation of natural resources.

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