Ideologies and the public good

Ideologies and the public good. By: Alyssa Sandlin Today, people may have only vague ideas about the government, how it works, what’s going on at that particular time, or what it even consists of. Many people argue what they believe to be good or bad, right or wrong, without any research to back it up, leading to misunderstandings about the government and politics. Many people lean one way or another whether it be toward conservative or liberal views. “When people go beyond merely leaning and adopt a rigid, closed system or political ideas, they cross a line and enter the realm of ideology. Ideologies act as filters that true believers use to interpret events, explain human behavior, and justify political action.” Magstadt, T. M. (2017).“Adam smith set forth the operating principles of the market economy.” Magstadt, T. M. (2017). Smith theorized about the invisible hand of the marketplace, expressed in the law of supply and demand. This law, he argued determines market value. When supply is large and the demand is small, the market price of said item will decrease in value. In turn, when demand is great, and supply is at a minimum the market value of said item will increase. As competition arises prices will decline leaving only the most efficient business owners in a position to expand their market. “Smith believed self-interest and market forces would combine to sustain economic competition, which in turn would keep prices close to the actual cost of production.” Magstadt, T. M. (2017).Smith’s free enterprise theory says that individuals voluntarily enter professions and occupations that society considers most valuable because the monetary rewards are irresistible, even if the work itself is not alluring. You see this a lot in this day and time, people take on a job that don’t want, such as a position in the nursing field, because of the monetary value and end up becoming burnt out or being uncompassionate and miserable at work in a short amount of time. Nurses who are uncompassionate and incapable of being sympathetic for patients give no justice to the patients, their wants and or needs.“As a whole, these concepts define what has come to be known as laissez faire capitalism, or the idea that the marketplace in the best regulator of the economy. Smith argued for the existence of a natural harmony of interests: what is good for the happiness of the individual is also good for society, and vice versa, because people will unintentionally serve society’s needs as they pursue.” Magstadt, T. M. (2017).“Power is the currency of all politics.” Magstadt, T. M. (2017). Without power the government can be deemed useless seeing as it can’t make and enforce laws, provide security, or regulate the economy without power. “Regulation is a major way in which government influences the U.S. market economy.” Regulation and the Economy. (2017). Without the economy being regulated, supply and demand would be hard to maintain. Market economies need clear rules to function efficiently. Without a legal framework establishing and enforcing property rights and the “rules of the game,” our free enterprise system could not exist. Power goes hand in hand with order. Without order there would be no structure or rules to maintain supply and demand leading to chaos and corruption in the economy, making a poor impact on the public good.Magstadt, T. M. (2017). Understanding politics: Ideas, institutions, and issues (12th ed.). Boston, MA: Cengage.Regulation and the Economy. (2017, September 27). Retrieved from http://www.ced.org/reports/regulation-and-the-economy.