Which Economic System Is Best Suited For Handling A Crisis Of Epic Proportion

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ASSIGNMENT OF WEEK # 1

Natalia Pimushkina

DeVry University

Which economic system is best suited for handling a crisis of epic proportions (hurricane, flood, blizzard, forest fire, etc.)? Why?

Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010.

In my opinion, socialism is the best economic system when we are talking about handling a crisis of epic proportion. Socialism is this kind of system where a way of organizing society is owned by the government mostly. The government organizations also help people in difficult situations like disasters. It’s not people’s fault of happening hurricane, flood, blizzard, etc.
No one could be protecting of it. But by paying higher taxes in socialism system, government will give a helping hand. During the time of crisis, it’s very important. Thousand of people could not have insurance or medical care. They would die or become homeless without government help. The main benefit in socialism is community. For example, the earthquake that occurred in Haiti in January 2010. The social system would be the best in responding to the needs of people who stuck in an emergency situation like that one. People need free medicine aid and suppliers. In truly socialism every person receive the same kind of treatment. Socialism works not only inside of a country but also outside. Like in the case with

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