Question

In an effort to promote rapid growth, the government of Cashland has kept taxes low, offered little regulation of business activities, and implemented only modest social programs. The government is now facing political pressure to do more to clean up the environment and to reduce the inequalities of income and wealth. Cashland government is currently taking a ________.

Answer 1

Answer:

Capitalist approach to achieve the objectives, although currently the determined pressures that the approach should be socialist in the future

Explanation:

Capitalism is an economic and social system based on the means of production must be privately owned, the market serves as a mechanism to allocate specific resources efficiently and capital serves as a source for generating wealth.

On the contrary, Socialism is the theory, doctrine or social practice that promotes the public possession of the means of production and a collective and planned control of the economy for the general interest of society.