Capitalism is inescapably better than socialism. If you want to have a successful economy, you need to have competition between small business. The redistribution of wealth, a key socialist idea, allows businesses to stay in operation, allowing for cheaply made products and a poor work ethic. This, in turn, eliminates the idea of business competition because of the fact that if a business is faltering, the government will take care of them. Without government protection, however, it results in better quality goods
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.
While capitalism has certainly assisted their respective countries achieve impressive economic development, the opposite effect of the second and third benefits have, though, occurred instead. Capitalism has increased the power of the government and has strengthened the ruling party’s control over the lives of its people. Additionally to that, the basic rights and the civil liberties have also become limited. Freedom of expression has been restricted especially if it is against the government. The economic disparity between the rich and the poor members of the society has grown and became worse.
Capitalism is a social system based on the recognition of individual rights, including property rights, in which all property is privately owned.There is a sense of hierarchy but Capitalism, unlike Communism has great morales. The harder you work, the higher you will get up in the ladder. Capitalism doesn’t offer free education, healthcare or jobs but it teaches us that everything comes with a price, unlike Communism who freely give away all those things. There is also more rights for the people because unlike Communism, Capitalism offers individuals to own and control land, capital, and production of industry. Individuals are also free to purchase and own their own homes, cars, furniture, and other goods such as TV, radios, computers, boats, or any thing else you might want.
Though these three systems have different advantages and disadvantages, the lack of government intervention causes capitalist economies to be the strongest. With little to no interference from the government, natural forces of supply and demand are present, allowing exchanging of goods and services to frequently occur which contributes to the growth of the economy, competition is not limited, causing companies to become more productive and innovative, and all citizens are encouraged to work hard in order to become wealthy. Although there is inequality amongst the people, capitalism makes personal growth in wealth achievable for all people, and unlike communism or socialism, allows people to earn the lifestyle they desire with hard work. Winston Churchill exemplified this idea through saying, “The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of
Leonhardt stated, “The fact that the rich earn enough money to save money allows them to make investments that other people simply cannot afford” (545). So, only the people with money have control of the American economy. While, the lower class should make sure the wealthy gets wealthier or else our economy with become unbalance. Now with Olsson assistance, the reader understands Leonhardt’s article that it is possible to succeed in American and Sam Walton is a good example but to be successful people must short change others that come in their way. This is a negative way of seeing how success can be achieved but it is reality on how America’s society is at this moment.
Socialism And capitalism; which ones better, or overall safer for the community? Ah, yes the great debate. The two are polar opposites if you think about it. Capitalism is about giving the power to the people, and letting business owners take control of economic resources, but on the other hand, socialism is about social inequality being reduced through the government. But which one is safer for the community to live in?
In capitalism, the upper-class keep getting richer by exploiting the lower working class, leaving a wide gap between the wealthy and the impoverished. Instead of splitting the population and using hardworking people unfairly, socialism allows an equal share among everyone so there is not a huge split between the wealth of a group. The packers and factory leaders all use the
Both the United States and Britain prided themselves in their democrat / capitalist nature while the Soviet Union believed that communism was a better way to rule a country. The capitalist mind frame was the idea of having a free market where you were able to spend money where you wanted and worked for your money trying to climb the ladder of success. Along with this the ability to have a free market where you were able to buy what you can afford and have the ability to become rich and pull yourself out of
The phenomena that Merton 's theory indicates towards can be successfully explained with the help of an example of how people achieve or strive to achieve economic success. For instance, in the U.S which has a capitalist system, everybody is motivated to attain financial profitability for a greater sense of positive identity. There are two legally approved ways of accomplishing this task, education and work. However, not everyone may have access to equal opportunities because of brokered access or discrimination on the basis of class, gender, race, sexuality etc. that is prevalent in most societies (Broidy & Agnew,1997).