Role of State in a Capitalist Economy-Free-Sample for Students

Questions: 1.Summarize the role of the state in a Capitalist Economy. What factors determine State Policies? 2.Discuss the Insights to be found in labour Market theories. Describe the Standard Employment Relationship, the Concept of a family wage, and the process of racialization. Answers: 1.Role of State in a Capitalist economy The role of the state is to involve in generating or preserving the best financial conditions that fulfill the capital requirements to collect profits and to sustain the place in the economy. In the arena of the global economy, the role of the state is to function for ensuring the competitive economy and enable the growth of capital by continuing the existing business and inviting new projects. Further, the state encourages profit-making by upholding an appropriate economic environment, by funding assuming cost and risk of manufacture and by offering services like welfare, health, and education for sustaining the labor force. The state is involved in keeping the economic environment healthy for the growth of capital and investment, it should maintain pleasant social conditions. The state offers an air of objectivity, to be observed by the normal resident as matching a diversity of interests and as directed towards the common good (Przeworski, 2014). The state approves and manages policies, like compensation of workers, employment insurance, health and safety, social welfare, pay equity, the function of all the policies is to nurture or reestablish social harmony, and thus add to the well-being of economy (Slaughter Rhoades, 2004). By way of the economy controlled by a small, but commanding, capitalist class by keeping harmony between programs, mostly the state is functioning for the benefit of the capital. In order to keep pleasant associations under capitalism, the state tries to ease the most deliberate conflicts or opposing interests in the society. 2.Factors determine state policy Unemployment insurance policy of State is not practically identified or the outcome of caring efforts of the politicians. Rather, it is the result of genuine actions, material actions, and the necessity to create a stability between numerous class interests. Social policy is the outcome of what are frequently tough procedures comprising class struggles, the action of the community and political campaigns (Harvey, 2014). For example, an organization of labor had constantly maintained the expansion of unemployment insurance since at least 1919, throughout the period of Strike of Winnipeg General and what was a nonviolent workers revolution over increasing unemployment. The thrust for regulation of unemployment insurance, though, was actually not a key risk till the Great Depression while unemployment workers in huge figures initiated to establish and show their demands in an extra aggression several needs of the workers, and moved ahead with the channel of the unemployment insurance ac t. In this case, the State policy, Unemployment Insurance- performed to keep stability in a society gap with disparities and on the edge of the severe class clash. State policies have strong influence and can be determined by the public opinion and priorities. Applicable to viable businesses in the growing public fear about the unstable prices of energy, environment, and global environmental change. Further, the factors that determine state policy are Technological change and Economic conditions. With the continuous change in the technology the environment of business has been directly affected and indirectly affects the state policies (Persistent Organic Pollutants. 2017). References Harvey, P. (2014). Securing the right to employment: Social welfare policy and the unemployed in the United States. Princeton University Press. Persistent Organic Pollutants. (2017). Factors Influencing the Policy Process. Retrieved from: https://www.popstoolkit.com/riskmanagement/module/step4/policyprocess/influences.aspx Przeworski, A. (2014). The state and the economy under capitalism. Routledge. Slaughter, S., Rhoades, G. (2004). Academic capitalism and the new economy: Markets, state, and higher education. JHU Press.