Capitalism and Socialism (Uber Case Study), Coursework Example

Your first task is to articulate the economic system (or combination of characteristics of both socialism and capitalism) that such laws depict.

There exists no real definitions regarding capitalism or socialism because both that can agree that the theories are very complex. The main difference between the two can be based on the role played by the government and the economics’ fairness. Capitalism is mainly driven by personal gain and self-interest. On the other hand, socialism is driven by community’s gain and interest. According to Fieser, (2015), he states that people requires diverse communities since they cannot survive on their own. Capitalism is market-based and consists of private sellers. Socialism on the other hand believes that economic production should be the responsibility of the government.

Your second task is to examine the laws that either support or limit the operations by Uber.

It is evident that Uber together with other related companies market themselves as something different from transportation companies. Uber drivers consider themselves as independent contractors or sometimes third-party service providers. By doing so, they are not viewed as employees thus enjoy skipping responsibilities such as paying of driver’s overtime and health insurances (Columbus, 2015). Columbus states that Ohio law requires Uber drivers to pay $5,000 permitting fee to Ohio public utilities.

Your third task is to analyze how your findings from your first and second tasks affect Uber.

Uber is an economic driven and privately-owned company which is known for capitalizing on profits (Steinmetz, 2015). It is a very profitable business since Uber is mostly not accountable to labor or any regulated laws.

And your fourth task is to present your moral position with regard to Uber.

Once upon a time, Milton Friedman argued that businesses ought to stay away from social responsibilities and focus on making profits only. However, he did not advocate for businesses to violate rules of law while in pursue of profits.

References

Fieser, J. (2015). Introduction to business ethics [Electronic version]. Retrieved from https://content.ashford.edu/

Rouan, R (2015). The Columbus Dispatch. Retrieved from: http://www.dispatch.com/article/20151227/NEWS/312279843

Steinmetz, K. (2015, June 17). Why the California ruling on Uber should frighten the sharing economy (Links to an external site.)Links to an external site. Time. Retrieved from http://time.com/3924941/uber-california-labor-commission-ruling/