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Social Science Role of State in a Capitalist Economy Paper

Added on - 15 Apr 2020

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Running head: SOCIAL SCIENCESocial Science
SOCIAL SCIENCE1Role of State in a Capitalist economyThe role of the state is to involve in generating or preserving the best financial conditions thatfulfill the capital requirements to collect profits and to sustain the place in the economy. In thearena of the global economy, the role of the state is to function for ensuring the competitiveeconomy and enable the growth of capital by continuing the existing business and inviting newprojects. Further, the state encourages profit-making by upholding an appropriate economicenvironment, by funding assuming cost and risk of manufacture and by offering services likewelfare, health, and education for sustaining the labor force. The state is involved in keeping theeconomic environment healthy for the growth of capital and investment, it should maintainpleasant social conditions. The state offers an air of objectivity, to be observed by the normalresident 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 orreestablish 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 bykeeping 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 deliberateconflicts or opposing interests in the society.Factors determine state policyUnemployment insurance policy of State is not practically identified or the outcome of caringefforts of the politicians. Rather, it is the result of genuine actions, material actions, and thenecessity to create a stability between numerous class interests. Social policy is the outcome ofwhat are frequently tough procedures comprising class struggles, the action of the communityand political campaigns (Harvey, 2014). For example, an organization of labor had constantlymaintained the expansion of unemployment insurance since at least 1919, throughout the periodof Strike of Winnipeg General and what was a nonviolent workers revolution over increasingunemployment. The thrust for regulation of unemployment insurance, though, was actually not a
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