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Capitalism Vs Communism Research Paper

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Capitalism Vs Communism Research Paper
Comparing two different economic systems can be the most difficult thing. Especially when talking about Capitalism and Communism. The only goal both economic system share is to strive and meet the needs of the people. From my knowledge taught in my economic class and the many documents I have viewed. I will be showing how each economic try to meet the needs of the people and how successful they are at doing this. When discussing Capitalism many people believe it is a system for the rich to get richer and the poor get poorer. It is so much more than that. Capitalism is an economic system where the belief is based on individual rights. Capitalism strive to meet the needs of the people by allowing consumers to have a free market and little government influence in the economy. Allowing products to be produced at an reasonable price. Capitalism meeting the needs of the people can be seen in four major ways; private property rights, voluntary exchange, profit motive, and competition. When dealing with private property rights this motivates an individual to make money and any recompense earned are for keeps. Being able to buy whatever you …show more content…
In a communism economic the attempts to meet the needs of the people are providing a job, a home, and free healthcare care. Also attempting to divide wealth and economic opportunity equally. In a communism economic factors of production are controlled directly by the government. Everybody in included in the commonwealth there is no difference between the rich and the poor. Allowing the poor to catch up have a financial and social status. In order for everyone to have equality everyone is paid the same, no matter what job you do.Communism tends to work on personal desire rather than economic needs. Communism leaves all the power in the state. So no one can own their own business, car, and
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