Intro to Business Essay

Submitted By Dawn-Currier Haag
Words: 614
Pages: 3

The best economic system to handle a crisis of epic proportions would depend on exactly what kind of disaster occurred. The majority of the time it depends on what kind of local responders you have to help first. For example, a forest fire would entail local fire departments and if they could not contain it than more help from other counties and then maybe help from federal agencies to get it contained. I would start off with the local help for this crisis too because they know the fastest way to get to the fire, the right people to call right away if needed, and where the closest water supply is. On the other hand if it is a disaster such as Hurricane Katrina, the federal government should step in to deal with it right away because obviously local is not going to be enough help to do anything for it. The local people, businesses, and help will be gone and devastated as much as the houses in town. I personally have a mixed view on this because while they are able to depend on the government to intervene immediately for help they also asked for assistance from the public. While this did help with a faster recovery it also left the door open for the “public” to prey on victims of the disaster. There were a lot of scams where the public was supposed to be raising money for the victims and instead were pocketing the money. There were multiple identity thefts and people claiming federal aid stating that they were a victim of the hurricane and thus displaced because of the devastation.
In a socialist system they believe in putting a higher value on the employee based on their amount of time with the business instead of the number of parts they make. Because of this they give them longer vacations, which make them best for responding to an emergency situation like the Haiti earthquake. Since the workers receive longer vacations and free education and free childcare they should have plenty of people who are able to help cleanup or repair things after the disaster. If there is not enough volunteers locally than they can call in FEMA or The Red Cross to help. However, I do believe that local people are the best for helping each other out.
The laws of supply and demand state