Compare And Contrast Communism And Capitalism

Throughout recent history there have been two ways for a nation to govern its economy that have stood out, Communism and Capitalism. While Capitalism is more of an economic principle, Communism stands as more of a system for governance of a nation as a whole. Communism’s socioeconomic structure is what allows for a comparison of the two to be drawn. Communism relies on an economic factor of Socialism, which is the spread of wealth, production, and means of production equally by the government. Capitalism is an economic belief allowing the privatization of production and its means. Capitalism allows for social classes and poverty, but is also a pinnacle for the American Dream. It lets the wealthy few hold power and is a means of corruption of
However that is not the case. Capitalism has its downfalls too. Forman calculates, about Capitalism, in Communism, “It was a new game without rules, and if one was wealthy enough and ruthless enough, one became a capitalist.” Many, who did not enjoy the fruits off the Capitalism tree, thought labor was rough and lacked reward. Forman captures this thought by stating, “Labor was hard, often dangerous, and poorly rewarded. This was the economic system of capitalism.” Capitalism was rough if one was not wealthy. For, approximately, every one person who gained money, “there are many millions more people … who have been thrown out of work. They are, overwhelmingly, middle-income employees.” Many of the companies avoided bankruptcy through borrowing money. Bartlett and Steele explained this shift of money by stating, “American companies went on a borrowing binge.” This was not the only problem, however, as, “the rules by which the American economy operate actually encourage it. That course went something like this: Take the company public, borrow a lot of money to expand … run up the price of the stock and sell it off at a nice