What type of economic system will actually be of benefit to the poor?
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What type of economic system will actually be of benefit to the poor?
Economic is an effective tool, infact, if not the only tool to crush poverty. The economic growth of a state is the powerful tool to reduce poverty in that state. Talkin about which economic system is beneficial to the poor, hmmm, I’d say mixed economic system. A mixed economy is when both the government and the people (private bodies) control the economy. This system is often characterized with both features of a free market and communism.
With a high level of state participation and spending, leading to tax-funded libraries, schools, hospitals, roads, utilities, legal assistance, welfare, and social security, mixed economy is the best bet for poor folks. The government impose different tariffs and tax, policies in order to suppress the private sector, and in most cases, these policies are put in place to benefit the poor. Talk about, free health systems, education systems, free libraries and all.