The government has the mandate to ensure the policies the administration enforces help the people within the jurisdiction. The chosen plans are a reflection of the economic system the government implements. The policies need to uphold the values of the system for proper and efficient functionality. The economic construct in question is capitalism. The paper examines the relationship between the ideology and power, order and justice; and illustrates the potential for constructive use of capitalism in the promotion of public good.
Power, Order, and Justice in Capitalism
The first step is to understand the relationship each concept has with the other ideas. Magstadt presents capitalism as a financial system, whose basis is the personal possession and control of production systems and subsequent operations for individual gain (2017). The ownership depends on private interests, and the private owners of property determine the prevalent demand and supply in a market. The goal of the system is to meet the best interests of the community and to make profit. Such an economic system is a capitalist marketplace, where the owners of assets purchase labor with money, accumulate gains from profits and distribute labor and capital based on various uses. The definition of the economic structure paves the way for comprehension of power, order, and justice (Magstadt, 2017). Power is the ability to exert authority through force or coercion. Individuals or organizations with the highest level of influence through the possession of vast wealth and control of production systems have more power in a capitalist economy. The group with such authority can use legal provisions in the law, threats, or physical capacity to influence decisions. The notion of order relies on the recommended procedures that ensure smooth procession of events in the system. The concept entails the definition of acceptable use of power to conduct operations. Justice becomes a combination of the use of supremacy to enforce order in a manner that enhances the ultimate benefit of the public. A capitalist system relies on the appropriate application of power, regulations, and justice to realize the desired goal of the public good.
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Promotion of the Public Good
The question of the public good is a general concern because of the tendency of the capitalist economy to create financial inequality. The ultimate result of the system so far has resulted in the concentration of wealth among the few individuals or corporations that own and operate production systems (Wood, Logsdon, Lewellyn & Davenport, 2015). The system is corruptible because the forces of technological advancement, growth, and competition fail to strike a balance the contribution of social and economic patterns. The compounding effect causes the general growth rate to fall below the return on investment rate. The outcome creates a wide rift between earnings such as wages and the wealth of capital owners. Wood, Logsdon, Lewellyn, and Davenport observe that the system can promote public good if the wealth distribution is under control (2015). Such authority may arise from the implementation of suitable government policies, and the contribution of the public through the appropriate choice of leadership. The responsibility to enhance the benefit of the society depends on the few individuals in the system, who control the production systems and operations. The group of individuals with power should consider the use of systems and processes, which will consider the needs of the majority without the power of influence. The majority also have the responsibility to evaluate the individuals to choose as administrative representatives in the government. Such individuals receive the ability to influence decisions. If the leaders have the best interests of the people at heart, the majority may enjoy more equality in the economy.
Conclusion
The concepts of power, order, and justice are essential in the recommended balance for the profitable operation of a capitalist economy. The driving force of such a structure relies on the players with authority to enforce order and justice. Achievement of the required balance enables the people in the system to benefit from the economy. Capitalism can promote the public good if the equilibrium exists.
References
Magstadt, T. M. (2017). Understanding politics: ideas, institutions and issues (12 th edn.). Australia: Cengage Learning.
Wood, D., Logsdon, J., Lewellyn, P. & Davenport, K. (2015). Global Business Citizenship: A Transformative Framework for Ethics and Sustainable Capitalism (1 st edn.). New York, NY: Routledge. https://doi.org/10.4324/9781315704081
