Reference Material:
Within most developed countries, notions of pragmatism, notions of the fact that we have democracies, have succeeded in tempering the market economy. In the 19th century, 18th century, the Industrial Revolution has a very negative effect on people, particularly working classes all over the world. We see data where life expectancy was reduced, hikes we were reduced, we were looking at the medical record. We can see that actually, living standards, much among large fractions of population, actually went down. But eventually, we pass the legislation about working conditions. And eventually, we circumscribe some of the worst kinds of behavior. We eventually, in the 20th century, we put regulations that composed better environmental conditions. And so some of the damage was reversed, and that we have made the market economy work and ways that the benefits of the all is far more what we shared in the world a hundred years ago.
Sample Answer:
In most developed countries, pragmatism and democracy successfully tempering the market economy. In the past, the Industrial Revolution had negative effects on people, including reducing life expectancy and living standards going down. However, we pass the legislation about working conditions, circumscribe worst behavior and put regulations that composed better environmental conditions. Therefore, some damage was reversed, and we make the market economy work and better benefits for everybody. (68 words)
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