ipl-logo

Advantages And Disadvantages Of Communism

940 Words4 Pages

1. Capitalism. An economic scheme based on the personal possession of resources and invention inputs, and on the manufacture of wares and services for revenue. The making of goods and services is based on supply and demand in the common market (market economy), rather than through central planning (planned economy). Capitalism is normally characterized by struggle between producers. Other facets, such as the contribution of government in production and ruling, vary across models of capitalism. Advantages a. Economic liberty helps political autonomy. If governments own the means of manufacture and set prices, it perpetually leads to a powerful state and creates a large administration which may extend into other areas of life. b. Decline in cost …show more content…

Communism. Communism is a system of economics where wealth for manufacture is controlled and managed by an essential state power and there is no constraint on the ownership of individual belongings. In communism private possessions as garments, watches and shoes are permissible to be owned by individuals and the accommodation is owned by the country. In communism individuals are given job by the state and payment of this service is made normally in kind. The individuals get the food and ration from the government alongside the education, health and entertainment facilities. Advantages a. Unlike the capitalist nations the communist countries allow its people to get the medical and health care without any cost. The morale of people is enhanced radically on getting the medical facilities of their desire from the government that too with no cost imposed on them. This in turn will allow the nation to develop more. b. The employment of people by the government allows each segment of society to put in his / her share in building the nation. No illegal activities are required for feeding one’s family as state gives food to all. Eventually the crime rate also goes down and nation prospers more. c. A development is seen radically high and economy also

Show More
Related

  • Analysis Of Andrew Carnegie's Three Different Forms Of Distributing Riches

    841 Words  | 4 Pages

    As for communism, the incentive to work an arduous job that took many years in college to obtain, like being a doctor, and having the same living conditions as a fry

    Read More

  • Summary Of The Jungle By Upton Sinclair

    990 Words  | 4 Pages

    Capitalism is when a company has a new product out and you buy it and that same company makes a profit. The problem with capitalism is that it is not overlooked like it should be. An example of capitalism is how bad the working

    Read More

  • Czar Nicholas And The Romanov Dynasty

    1227 Words  | 5 Pages

    1. Communism: Communism is defined as the political and economic doctrine that aims to replace private property and a profit-based economy with public ownership and communal control of at least the major means of production and the natural resources of a society. This form of government is important because it is backed by the idea of pure equality and is known for being the highest, most advanced form of socialism. Communism fueled the leaders of the Russian Revolution, such as Vladimir Lenin, Joseph Stalin, and Leon Trotsky. When Lenin was called into power after Nicholas II’s abdication, he immediately introduced Communism as Russia’s new form of government.

    Read More

  • Compare And Contrast Communism Vs American Economy

    3037 Words  | 13 Pages

    Economy is the theory of trading something, in most cases, a currency of sorts, for a service or a good. The United States’ economy was first invented around the creation of the colonies. When the colonies declared independence from Britain, a more formal economy was developed to what it is today.the new world progressed from a small marginally successful economy to a large industrial economy by the late 18th century. Starting at trading of furs, we brought our newly found economy to light. This gave us a gate to the new superpower we didn 't know yet know about.

    Read More

  • Summary: Economic Continuum Formative Assessment Planned Economy

    455 Words  | 2 Pages

    This would include, production rate, how much people get payed, and  prices on goods/services. Advantages: Some of the advantages of a planned economy would comprise, no one is in poverty/homeless, equal amount of wealth, and everyone has an occupation. Disadvantages: Some of the disadvantages of a command

    Read More

  • Government Intervention In Canada

    192 Words  | 1 Pages

    So some advantages of government intervention would be cheap education meaning more workers with better education. The quality of life would improve with cheap health care as well as child tax benefit. Also, better quality roads and lower pollution could result from a mixed economy

    Read More

  • How Did The Russian Revolution Affect Canada

    159 Words  | 1 Pages

    Russian Revolution In 1922, as a result of the Russian Revolution, a new political party emerged: the USSR or the Soviet Union. The Soviet Union was the world’s first communist state. Communism was a new political and economic model that was supposed to get rid of class distinction. From the beginning, communism opposed capitalism and capitalist countries like the United States. The Russian Revolution united the socialists against the capitalists, with the USSR, a communist country, siding with the socialists.

    Read More

  • Joseph Mccarthy: The Definition Of Communism

    708 Words  | 3 Pages

    Joseph McCarthy was a U.S. senator in Wisconsin. He practiced the concept of McCarthyism. The idea of McCarthyism went completely against communism. So anyone who supported McCarthyism hated communist. They thought Communist were the worst people ever.

    Read More

  • Communism In The Giver

    733 Words  | 3 Pages

    Communism builds on the idea that everyone is the same and should earn the same amount of money regardless of their profession. The most important with communism is that there should not be any class distinctions. China, Laos, Cuba and Vietnam

    Read More

  • Big Government Pros And Cons

    418 Words  | 2 Pages

    Big-government proponents embrace both the power of the federal government and the idea that millions of Americans ought to be dependent on its largesse. It's time to return to our Founders' love for small government. More is not always better. –Gary Bauer. Historically, the size of government has always been one of the most divisive topics between Democrats and Republicans. Whether it is a small government, or a big government.

    Read More

  • Socialism Vs Capitalism Essay

    732 Words  | 3 Pages

    Definition of Capitalism What is capitalism? According to Adam Smith, both parties in a capitalist system, the buyer and the seller, act in a voluntary transaction to achieve the outcome that serves their self-interest. However, both parties cannot obtain what they want without delivering the needs of the other. In definition, capitalism is an economic system where properties can be controlled and owned by private sectors to suit their interest, which is to gain profits, while the demand and supply of goods and services set the market prices to serve the interest of the society.

    Read More

  • Compare And Contrast Capitalism And Capitalism

    871 Words  | 4 Pages

    Capitalism and Socialism are types of systems throughout the world in different societies that have had their successful periods of time, but did not show to have the same success at other times during the course of history. Socialism’s theoretical essence says that ownership of property should be in the government’s hands meaning that government has more rights in the assets than individuals do while Capitalism gives to the individuals the right of property, creating a better society since the individuals can produce and purchase as they need to. Capitalism is the political and economic system where land, factories, companies, etc. are owned privately to produce profit for those who own them. Prices of services and goods vary from the costumer’s

    Read More

  • Karl Marx And Liberal Democracy

    1891 Words  | 8 Pages

    Marx saw capital and liberal democracies as the fundamental reasons for the low standards of living and the low social conditions of workers. Karl Marx in particular is especially concerned with the political assumptions behind these two ideologies. According to him, these two types of government should be replaced by communism, since communism would provide a more equal and socially just society. Although this statement may seem unusual, since we tend to associate communism with Stalin and China, the type of communism implemented in these countries is different from the communism that Marx and Engels envisaged in their Communist Manifesto. Marx and Engels’ vision of communism is based on the principle of equality among the people and freedom

    Read More

  • Socialism Vs Communism Essay

    913 Words  | 4 Pages

    To begin with, communism and socialism first use in French and Italian revolutionary with the same purpose to overthrow the established governments and set up a new propertyless society. Communism and socialism both have the same objective but different in degree. In other word, communism is the extremist version of socialism. To compare, while most governments these days combine free market capitalism and socialists ideas, communism exists in few parts of the world. While communists seeks to completly eliminate capitalists government and support the role of worker in search for equality, socialists seeks to increase public social programs than the private and advocates to reduce class structure instead.

    Read More

  • Mercantilism In Africa

    2052 Words  | 9 Pages

    These benefits include having access to afford the cheap products from China especially by the poor people since they are not able to afford expensive products and

    Read More

More about Advantages And Disadvantages Of Communism

Open Document