To create a fair and sustainable community in Portugal, it would require a majority of citizens to be personally responsible. Economic systems that would be most effective in creating a fairly sustainable economy would be capitalism and socialism. I understand many people may say that a Market and Command economy would be best, due to you would find greater efficiency, its “speed”, and that it’s sustainable. However, capitalism and socialism can provide both fairness and sustainability, because it will provide a greater social welfare, will decrease business fluctuations, people will have access to basic goods, along with minimization of poverty levels in society.
A few may agree the best political system that is the most sustainable and fair for operating an economy would be communism. Though many people consider it may help close the gap found between the poor and the rich, lower rates of unemployment, reduce the problem of discrimination, hunger, homelessness, and education. This mindset might be successful, although communist governments would be rather unworkable. There are cons to this type of community. There is NO freedom of speech, political stress, people will end up immigrating to other countries, free markets will no longer be functional, currency problems may end up forming, the government will end up owning all businesses, and furthermore the means of production.
If an economy uses capitalism, it would be the best, fairest and most sustainable economy to operate. It operates freely on its own, supply and demand drives markets, and government involvement is low. Capitalism is an economic system that encourages private ownership of businesses that operate to generate profits. Yes, capitalism can cause monopolies and monopsony power. But it is still crucial to have, since it can provide a strong motivation to produce, grow, innovate, improve, and move forward in a positive way.
A second crucial Political Ideology that would be the fairest and most sustainable to operate an economy would be Socialism. It is the closest alternative to capitalism. In a socialist economy, people have equal opportunities for education, jobs, and healthcare. But an economy with only just capitalism and no socialism can cause negative outcomes. Such as people not being able to afford healthcare and food, because the only way people can afford/get “free” healthcare would be by a socialist economy. It can improve social stability, access to medical facilities, and minimum basic income.
My Political Ideology could create fairness and sustainability, but to an extent. In any economy, you will without fail encounter non-fairness in any money. But with the ideology I have chosen, I can create fairness and sustainability by closing the gap between the rich and the poor. Equality, healthcare will be easy to access, as well as food, and people will have freedom.