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Essay

Political Economy - Philippines

Essay specific features

 

Issue:

Social Issues

 

Written by:

Jeffrey B

 

Date added:

August 25, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 699

 

Was viewed:

6425 times

 

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Essay content:

Thus, the market is an essential part of the society. The society can hardly function without a market where the demands of the people, from the most basic necessities to luxury, are generally sufficed. Expansion of the market is a goal of a lot of economies. The market is a determinant of the quality and the stability of the economy, and the economy is the society’s most physical and concrete basis of its progress and wealth...
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Private interests drive capitalism but as what Adam Smith described, private interests ultimately lead to the public welfare by what he called the invisible hand. This is an ideal scenario in the free market. However, minimal intervention of government in the market is still advantageous for the nation, as long as the main intention leans toward the benefit of the society...
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General issues of this essay:
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