The purest form of capitalism does not have any government interference, but gluttony is so common that governments must step in and regulate the system in order to protect its citizens. This is seen as state or welfare capitalism. The technical definition of division of labor is “the splitting of a group’s or society’s tasks into specialties” (Henslin, 2013, pg. 103). This develops a dependency on others to accomplish their jobs in order to accomplish one’s own job. Even with that side-effect division of labor is important in a capitalistic economy where the population continues to expand rapidly. The greater the population is the higher their demand for products and resources are. This is beneficial for a capitalist economy because it will encourage market
The purest form of capitalism does not have any government interference, but gluttony is so common that governments must step in and regulate the system in order to protect its citizens. This is seen as state or welfare capitalism. The technical definition of division of labor is “the splitting of a group’s or society’s tasks into specialties” (Henslin, 2013, pg. 103). This develops a dependency on others to accomplish their jobs in order to accomplish one’s own job. Even with that side-effect division of labor is important in a capitalistic economy where the population continues to expand rapidly. The greater the population is the higher their demand for products and resources are. This is beneficial for a capitalist economy because it will encourage market