Communism Vs Capitalism

1024 Words5 Pages
Communism v. Capitalism You have most likely heard of Communism and Capitalism but do you really know what they are? Or which one is more beneficial to live under? Based on an understanding of how they work, I believe that it would be better to live in a Capitalist country rather than a Communist one (since Capitalism encourages labor). Both economic systems are intended to benefit society, and both have pros and cons. I believe, however, that once you understand how they supposedly work, Capitalism shows itself to be the far better choice. Capitalism and Communism: What are they? At their most basic levels, Capitalism and Communism are both economic plans, rather than being forms of government. A government tends to revolve…show more content…
The USSR failed and broke up in 1991, causing the collapse of several other Communist regimes, including East Germany (which reunited with West Germany to make Germany whole again), Hungary, Romania, Poland, and Czechoslovakia. Now there are only five Communist states left in the world. Cuba and North Korea are more well-known examples; Cuba is suffering from poverty, economic sanctions, and food shortages. North Korea is one of the most isolated countries in the world, and also suffers from starvation, and poverty, and both rely on Humanitarian Aid to survive. The People’s Republic of China is the only country still claiming to be Communist that is economically successful. However, there economy is doing so well because it is bringing more and more elements of Capitalism into its economy. China has actually become more capitalist than the United…show more content…
It creates an equal opportunity for all to become successful, and lets people taste the fruits of their efforts. Unlike Communism, where everyone’s work is valued equally. The political discussion of whether Communism and Capitalism has been running for over the past 170 years and is still pretty hot. However, even though Communist regimes tend to fade away more frequently than Capitalist ones, even powerful capitalist regimes like the USA can become weakened by the choices of the people. And so in this way, the people are responsible for the outcome of their country, good or
Open Document