This essay is about the society that has been witnessed theoretically through the visits through Mayfair and Stratford.
The issue of socialism is an important aspect of any community because of the huge contributions it has on the economy as well as social development. This is because it often covers the road map to production as a way of recovery from economic and moral undoing of capitalism. It is also crucial to realize that it is unknown whether this phenomenon influences the organizing force in aspects that touch on humanity (Hewitt & Pendlebury, 2014). The efforts of Lenin have far much contributed towards economic development having learned from his experience of the challenges in the system. These difficulties were because of an economy that lacks the aspects of competition in the pursuit of making profits (Butler, 2014).
It is important to note that the global economy has for many years been dependent upon assumptions of eternal growth. However, life in London today is based on non-renewable sources as raw materials for economic growth. The challenge towards attaining transition, however, is the efforts to make citizens, and their businesses make the most out of their talents and the local resources (Hewittn & Pendlebury, 2014).
Stratford is located at the heart of the Midlands of England that dates back to the medieval age. Today, it is often recognized as the place of birth of the renowned playwright William Shakespeare. This has served the town well in the generation of foreign currency due to its historic features. Stratford has the lowest rate of unemployment among the population thus serving as a mirror of vibrancy and a successful economy, which is why there are always homeless individuals around begging for money. The rates of joblessness have been recorded to be in the range of approximately 4 to 6% thus contributing to economic productivity % development through skilled manpower and revenue payment (Butler, 2014).
The town of Stratford placed a bid for the purpose of development based on three stimulating factors. These factors include; it being the diversity culturally as well as ethnically. Its focus on renewal of one of the impoverished parts of the city in which Olympics plays a major role in giving necessities to the residents. This is to earn them a legacy, and its focus on inspiring the young generation through sporting activities (Dennis, 2013).
Stratford is well known and widely recognized as the home of Olympic and Paralympic games, especially during the summer. This park is composed of the iconic Stadium that has documented the worlds’ records as well as an Aquatic Center with the most amazing swimming pools and ArcelorMittal Orbit. This is a million dollar panoramic view over the Park, and the East End landscape of London that is fast-changing over to the heart of the City (Štrajn, 2012).
The aspect of culture in Stratford has been incorporated into the architectural work and landscape of the Queen Elizabeth Park. This serves well in instilling a strong sense of belonging and traditional feel through the integration of excellent artwork. The artwork promises many improvements and attraction to the town of Stratford through its continued creativity as the evolution of the park increases by the day. These improvements can be achieved through performances in poetry, workshops, and talks as well as music & drama festivals. This town offers Gourmet due to the presence of highly priced restaurants providing luxurious cuisines of both local and international origins (Dennis, 2013).
Another location which I went to was Mayfair which is located at the heart of the London in Westminster. This town is named after the fortnight-long May Fair that often occurred in the town from the late 1600s to mid-1700s. This town serves as the most attractive sites of London city characterized by class, mundaneness, and attire. Despite the fact that Mayfair is old, it is the very home for the finest shopping establishments in the whole world (Štrajn, 2012).
Mayfair has hidden treasures that serve the city’s economy thanks to the monopolization aspect. This is because it contains one of the most exotic hotels, shopping malls, and restaurants as well as members clubs. The buildings here earn the owners highest rental rates in London and across the world thus contributing to the serenity of the place. These constructions include the Royal Academy of Arts, Grosvenor House Hotel, US Embassy among others. This area has become an influential site that lures private banking facilities, hedge funds as well as wealth managers. Designers have also created a niche in Mayfair as evident by one of the most luxurious galleries such as Savile Row (Dennis, 2013).
In terms of economic growth and development, Mayfair houses hedge funds and private equity firms. This is characterized by fretworks of refined streets that are situated in the eastern part of the costly super sweeps of Hyde Park. Often the greatest difference between private equity and hedge funds is dependent on each purchase. Moreover, private equity relies on huge bets on quite a few companies hence taking control through extraction of profits. However, hedge funds on the other hand often play the game of flipping in and out of liquid assets such as bonds, stock exchange, dangerous products, and foreign trade among others. However, the issues of bribery, greed, insider trading, social status and class cause the investors to continue putting in money into such firms. This is despite the bg risk posed by the continued investment in such firms (Štrajn, 2012).
The aspects of socialism penetrate the economic calculation equation and in most cases are hard to attain. This is because of issues that touch on capitalism in which a centrally organized system cannot be substituted for economic development. This is because it aids in the resolution of contemporary issues that often are important in the society. It is, however, important to continue instilling good virtues in the young generation to inform their sense of decision-making in future.
Based upon the aspects of capitalism and socialism, there is a clear line between the two in terms of economic development. Capitalism adopts a competitive free market that encourages the exchange of goods and services voluntarily. Socialism, on the other hand, focuses on government involvement. However, it is crucial to consider the needs of the people in the community through regulation of businesses to ensure fairness. In my opinion, Stratford system of operation in the service of its people is ideal. This should, therefore, serve as a reference point for most locations like Mayfair, who languish in poverty at the expense of greedy people in leadership.
In my opinion, Stratford and Mayfair system of operation creates an ideal and equally beneficial service of its people. This should, therefore, serve as a reference point for most cities that have not explored their local resources in tapping talents thus languish in poverty at the expense of greedy people in leadership.