According to Adam Smith’s Theory” Wealth of Nations,” ideology is the exact same in I believe. He stated “Rational self-interest in a free market economy leads to economic well-being” In other words, there was little to no government involvement and we as individuals were given the opportunity to have a free market so we can become balanced. We as individuals will be willing to work out of pure happiness and as well as be able to work as an entity. Therefore, being of the opinion that capitalism is the ideology that is prominent in promoting public goods through order, power, and justice.
Order
Order by political definition “refers to an existing or desired arrangement of institutes based on certain principles such as liberty, equality, prosperity, and security also often associated with the rule of law and with conservative values such as stability, obedience and respect for a legitimate authority”(Magstadt, 2017, pg6). Unfortunately, people mostly relied on the security aspect of order versus the equality and prosperity which is seen in capitalism. Providentially, capitalism is not against a lawless society and believed that it can be helpful in the hands of people. We as individuals need a lot fewer rules to abide by in order to have an abundance of prosperity, let alone for society but as a vital force.
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Power
“Political Power can be defined as the capacity to maintain order in society”(Magstadt, 2017, pg 21). As far as power, the ideology is the belief that there should be little or no government involvement is needed in society. In society, it belongs to each individual versus the government. I myself can argue that fact that what this does is have tons of huge corporate companies take advantage of others knowingly because “capitalism opposes high taxes”(Magstadt, 2017, pg31) So, in reality, these large companies are coming up with “ justifiable” reasons to be capitalist asking for more tax cuts and find various way to discover loopholes in order to steer clear of taxes or any other vast expenses.
Conclusion
Actual capitalism encourages the public good of the people by empowering them to flourish individually without the government interceding and providing success. Capitalism is the type of ideology that has the most influence in today's world. Per Adam Smith “ The free economy is an adaptable and flexible system, which can withstand the shock of the new and cope with whatever the future brings”
References
- Magstadt, T. M. (2017). Understanding politics: Ideas, institutions, and issues (12th ed.). Boston, MA: Cengage
- https://www.adamsmith.org/the-wealth-of-nations
- https://www.econlib.org/library/Enc/bios/Smith.html
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What Is the Public Good: Informative Essay.
(2023, July 11). Edubirdie. Retrieved November 2, 2024, from https://edubirdie.com/examples/what-is-the-public-good-informative-essay/
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2023 Jul 11 [cited 2024 Nov 2].
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