Tugas.3
TUGAS 3
Untuk TUGAS 3 ini anda akan diberikan pilihan topik untuk membuat sebuah essay dengan panduan sbb:
1. Buatlah essay dengan paling tidak 3 paragaph (1 buah paragraph awal, 1 buah paragraph
isi dan 1 buah paragraph penutup).
2. Tulislah jawaban anda pada rentang 150-200 kata.
3. Jawaban essay diketik dan dikirimkan ke Forum Tugas dalam bentuk Word.
Pilihlah salah satu topik berikut:
A. If the idea like Marshall Plan is implemented in many poor African countries, this world would be a better place.
Do you agree or disagree to the statement?
B. The principles of Laissez-Faire are not valid anymore in this present time.
Do you agree or disagree to the statement?
Selamat Bekerja.
Salam,
___Tutor___
B. The principles of Laissez-Faire are not valid anymore in this
present time.
Do you agree or disagree to the statement?
Agree ...
Laissez-faire is a political ideological concept that rejects the practice of government intervention in the economy. This term, in French, means "leave us alone". The reason for the rejection is because the state is seen as an obstacle to economic growth and development. Market mechanisms work to determine the most efficient allocation of resources. Price becomes a signal for supply and demand in the market. Changes in supply and demand will ultimately lead to equilibrium (the meeting point of supply and demand), the point at which social benefits are maximum. Such equilibrium will not be achieved if the government intervenes.
Adam Smith The Wealth of Nations (1776) describes the economy of laissez-faire in the concept of "invisible hand". A market that is free from government intervention will provide the maximum benefit for all. This concept gained momentum in the 19th century. Industrial growth in Britain and America in the late 19th century took place in a laissez-faire capitalist environment. However, the laissez-faire period ended at the beginning of the 20th century. This is marked by the emergence of a number of government regulations related to business, such as anti-competition regulations.
Market mechanisms work to determine the most efficient allocation of resources. Price becomes a signal for supply and demand in the market. Changes in supply and demand will eventually lead to equilibrium, the point at which social benefits are maximum. Such equilibrium will not be achieved if the government intervenes. The government's job is only to ensure that the market system and mechanism works. That is, for example, through enforcing property ownership. Income or wealth distribution policies should not exist because individuals work hard to produce what is best for them. Likewise, intervention through competition regulations will only undermine the work of the market mechanism. Intervention, whether through price control, protectionism, or anti-competition, benefits one party and harms the other. As a result, market output will not provide the maximum social benefit.