Commerce in the Post-Renaissance World

The government type known as democracy is the system in which all qualifying citizens have identical political rights, freedoms, and securities. In ancient Greece, only free adult males could be qualified as citizens.

During the Renaissance, Florence profited from a mercantile economy due to the guilds, the quality and variety of goods and the style and management of the market place.

I think that a republic is the best form of government. A Republic is another word for Representative Democracy. A republic is a form of government where nobody has ultimate power or makes all decisions. It is run on a system of checks and balances. This is good because then one person won't get too carried away with power, or if one person has a bad idea, other people can veto, or say no to that idea so that the country doesn't make too many bad decisions as a whole. Also, all of the people in the country have to choice to vote for who they want in office, so it is the people’s choice of who they want in power or who they want to make or veto decisions. Of course, many countries are much too big to count each individual vote, so a smaller

He goes on to explain that the economy of a nation is extremely too complicated to be controlled and directed by a government. There are too many minute details that make up the economy as a whole to be effectively and consciously planned. This is how competition is the better alternative. Individuals of a society, left to their own designs, can each be a small director of the economy. Never having enough power to take over another citizen’s life, but each playing a small part in making such a sophisticated system work.

This takes the vote of the majority, therefore making choices that most shall agree upon. The exact opposite form of government would be a benevolent dictator, a sort of government that Aristotle would agree upon. He believes that there are always natural leaders and followers and that one cannot survive without the other. This leader has a vision, to take his or her people somewhere in a good direction. This form of leadership denies the will of the masses and excludes all people’s ideas except one. A dictator may be one of the most selfish leaders, yet this clouds the intentions and selfishness of all the other people, simply grouping them into followers and nothing

Throughout history governments and economists have always disagreed on free markets and command economies. In free markets prices are determined by unrestricted competition between privately owned businesses.

"23 Things They Do Not Tell You About Capitalism" by Ha Joon Change demonstrates the hidden stories behind the free-market ideology. We were told that if the government intervenes the market, firms would not work efficiently. Hence, the only way to maximize efficiency is to let individuals who know best about how to utilize their own resource to act rationally. This is the belief of free market, which we have trusted and have been told. However, in the real world, there is no such thing as pure laissez faire policies as we have believed. Every market has its own rules, regulations and restrictions, covering freedom of choices. The only reason is politics because there is always such situation where government need to step in and intervene.

Since its development, capitalism has allowed for many people to thrive and seek success. Capitalism allows for people to follow their dreams’ and pursue careers that interest or appeal to them. Inspired and motivated people result in the invention of new creations and advancements. Mallon states that this in turn allows for advancements in research, science and technology (Mallon, 2008). A free market provides competition, which acts as an inspiration for motivation and innovation for new products. Capitalism also allows for businesses to thrive and creates success for people. A free market economy allows for private businesses to compete and for consumers to have the ultimate choice in their purchases. The majority of society is able to prosper and take advantage of the opportunities that a free market has to offer. MacRae argues that, “free markets (bring) prosperity, not poverty for masses” (MacRae, 2005). Free

The purpose of this activity is to give students an idea of what the trading world was actually like during the Renaissance. It gave me the opportunity to make my own choices like I would if I was actually a spice trader hundreds of years ago. I was able to view the early modern trading world from a personal viewpoint.

A free market system requires some government intervention in the marketplace in order to ensure the safety of society (Zupan, 2011). This intervention is necessary to prevent anarchy, but it must be limited to the protection of life and private property. In addition, government also has the responsibility to establish a fair set of rules by

In a free market, everyone is dependant upon one another for survival. This is due to the limited expertise each person possesses. For example, not everyone can effectively farm, or build a house, or manufacture a car, or set up a PayPal account. It

When the government interferes to dictate what market participants can or cannot do, resources cannot flow to their most efficient use. If people cannot do the things that they find most profitable, they lose the incentive to invest and innovate. Thus, if the government puts a cap on house rents, landlords lose the incentive to maintain their properties or build new ones. Or, if the government restricts the kinds of financial products that can be sold, two contracting parties that may both have benefited from innovative transactions that fulfil their idiosyncratic needs cannot reap the potential gains of free contract. People must be left ‘free to choose’, as the title of free-market visionary Milton Friedman’s famous book

In the absence of the economic freedom, all other freedoms become any source of conflict between the government and her citizens. The patterns of economic liberty are diverse touching all the unique cultures and history of the inhabitants and the geographical location of the individuals. The economic freedom where the taxes are reduced provides the citizens to use their wealth as they choose. The government expenditure on restriction and regulation reduction since the private sector can do it better ensuring less corruption, secured property rights and transparency in the import and export transactions (Miller and Kim, p. 15).

Some of the characteristics of the free market economy are that everyone is out there to make gains and maximise on them gains. The firms will maximise profit and consumers would have gained a good or service that they wanted. Majority of country’s factor of production, land, are owned by a third party. They will be the private owner of

For example, the government restrict monopolies to control the market. The government will balancing the economy of country by reducing the unemployment rate and collecting tax from those who have more income then use it to help those people who suffering in economy problem. Government provide public good such as national defense that the private company has not effort to provide. The goods and services provided by the private company are private good such as a restaurant provides foods to its customer. There are some advantages to market economics. People have more freedom and have the ability to voice out in the market. This is because government are only involves a small part in this economy system. Since this is free market system, the most desired product are produced because buyer are only willing to pay higher price for the thing they want. This also make those company become more efficient because they need to produce more product to earn more profit. Besides that, there will be more new products being created to meet the needs of consumer in a more efficient way. There are some disadvantages in this economics system. Those people who are rich start to earn more money by exercise a unreasonable