Preview

Why Is Capitalism Better Than Socialism

Satisfactory Essays
Open Document
Open Document
298 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Why Is Capitalism Better Than Socialism
There are many different ways to rule governments economically. Socialism and Capitalism are two different ways governments used to rule their countries economy. Socialism is an economic system where the state owns everything being made as a whole. Socialism was to created to try and stop differences between the rich and the poor. Capitalism is an economic system where the goods made in factories are privately owned. What this means is that, if more Ford automobiles are bought then Chevrolet automobiles the marketplace is going to make fewer Chevrolets and more Fords because that's what the people want. I believe that a country would be ruled better if it was under a Capitalist rule. Capitalism supports more than Socialism. Socialism supports

You May Also Find These Documents Helpful

  • Better Essays

    Capitalism is a system that can be used in different areas such as political, social and economical. Capitalism is a system where the country makes money by people having private businesses. Under capitalism, the country’s economy is run by people owning capital. The goal of the businesses under capitalism is to make money. The businesses want to make the value of the company as high as possible. When a country is under capitalism, the government makes laws to make sure that all businesses are fair. Capitalism takes place all around the world in places such as the United States and Germany (Demott).…

    • 902 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    Capitalism is an economic system where the government is hands off of businesses and people work to make profit, it is based off of private ownership. In document one of the DBQ, it states that capitalism is "based on the private ownership of capital, and on the production of goods and services for profit" (document 1). Even though it may sound like a good idea, many people were unhappy with capitalism because on lthe people who took the risk to invest money were wealthy and everyone else, for the most part was poor. The solution to these problems were new ideas of economic systems. Socialism was one idea. Socialism was an economic system where there is eocnomic equality and the government owns big industries. Documemnt four of the…

    • 277 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    <br>Socialism is one of the roles of government in the economy. Adam Smith, who is the father of capitalism, believes in laissez-faire, "hands off" the government. He believes all production should be sale at the best possible lowest price. (Doc 5) While Adam Smith believes in capitalism, Engel is criticizing it. Engel believes the capitalism seizes everything for themselves but not the poor, they remain nothing. (Doc 7) Karl Marx, the author of a 23 page pamphlet, "The…

    • 474 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    I think capitalism is good for the poor compared to other systems such as communism…

    • 281 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Communism vs Capitalism

    • 992 Words
    • 4 Pages

    Since the beginning of the 20th century many countries have favored the economic system of communism over capitalism many political partys around the world that are communist based have the term “workers party”incuded in their name because communism is a system for the working class and capitalism is a competitive system for the upper class society to benefit. Communism was not envisioned by one person but molded and perfected by many one of the key contributors to the creation of communism was Karl Marx who wrote The Communist Manifesto which heavily criticized capitalism “The flaws Marx found in capitalism led him to believe that communism would create the best political, economic, and social situation for citizens in every society” (L.T., 1).In a totalitarian state ruled by communists one political party controls every aspect of the government mainly the economy instead of being able to grow or produce what you want the government would tell you what to grow and how much to grow thus decreasing competition among different corporations manufacturing and mass producing the same items or goods. By controlling the economy the people in a communist nation also are equal not separated by accumulated wealth .Many countries with newly formed communist regimes are often the result of a revolution inside the country or expansion by an already communist state countries like Russia,China,Cuba,Vietnam,North korea,Cambodia and many more because the people wanted a change in government that would benefit themselves and their country showing that communism is still a rising system in the modern world and that it is very successful economically socially and diplomatically overall communism is a system that will benefit a nations people economy and government over a extended period of time…

    • 992 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Socialism does not advocate the seizure of private property; it advocates the nationalization of the means of production. Communism on the other hand takes away everything, leaving nothing for the individual but what the State deems enough.…

    • 1439 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Capitalism and Socialism are different kinds of economic systems which work in different ways throughout the world. Capitalism is a system that allows people to access a free market, whereas, socialism is an economic system controlled by government which promotes equality for all but provides less options for improvement. Most countries of the world fall into one of these economic systems, and the capitalist countries tend to have stronger economies than the countries with the socialist system. There are many different points of view which argue that the capitalism works better than socialism; however, this essay will compare and contrast both systems and demonstrate which one works better. Venezuela and Cuba will be used as the primary examples…

    • 192 Words
    • 1 Page
    Good Essays
  • Satisfactory Essays

    Socialism is the means of all aspects of the economy and owned and is regulated by the community. The founder of this theory, Karl Marx, is usually associated with Communism. While Socialism is considered a lower stage of communism, it is actually the middle of the economic systems (Capitalism, Communism, and Socialism). Communism has more of an underlying political effect, whereas Socialism and Communism do not. By Socialism controlling the means of production, this diminishes the idea or private businesses.…

    • 168 Words
    • 1 Page
    Satisfactory Essays
  • Powerful Essays

    There are many types of capitalism but the main ones that mostly everyone knows are free-market capitalism, state capitalism, and social market economy. Free-market capitalism is a free-price system where demand and supply are allowed to reach equality without the government interfering. State capitalism consists of a state-ownership of profit-seekers that operate very capitalistic in a market economy. Social market economy acts as a free-market, normally, where the government intervention in price formation is kept to a minimum but the state provides for moderate to extensive provision of social security, unemployment benefits, and recognition of labor rights through collective bargaining schemes.…

    • 1926 Words
    • 8 Pages
    Powerful Essays
  • Satisfactory Essays

    Industrial Revolution DBQ

    • 444 Words
    • 2 Pages

    Socialism is one of the roles of government in the economy. Adam Smith, who is the father of capitalism, believes in laissez-faire, "hands off" the government. He believes all production should be sale at the best possible lowest price. (Doc 5) While Adam Smith believes in capitalism, Engel is criticizing it. Engel believes the capitalism seizes everything for themselves but not the poor, they remain nothing. (Doc 7) Karl Marx, the author of a 23 page pamphlet,…

    • 444 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    The debate over the superior socioeconomic system has gone on for over 100 years, and there seems to never be any consensus. In fact, the debate has become so heated that wars have been fought in order to prove supremacy—i.e. the Cold War fought primarily between the USA and the USSR. On one end of this debate lies the communist party that’s goal is to eliminate the gap between the rich and the poor by creating social and economic equality between classes. The opposing party is the capitalists, who strive to for free market economy and individual enterprise. Socialism is the middle ground as it is a mix of both private corporations and government run facilities.…

    • 821 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Capitalism And Socialism

    • 393 Words
    • 2 Pages

    Capitalism and socialism are economic systems that both began in 1750. In my opinion, capitalism is a better system because it includes private property and capital accumulations. Capitalism affords economic freedom. It also affords consumer choice and economic growth. Capitalism and socialism are somewhat opposing schools of thought in economics. The central arguments in the socialism vs. capitalism debate are about economic equality and the role of government.…

    • 393 Words
    • 2 Pages
    Good Essays
  • Powerful Essays

    Socialism is an economic system whereby the means of production or the products are government owned or controlled by the government. Socialized medicine is a system of providing free medical health care by government controlled financing strategies majorly taxation and insurance. The whole health sector in some cases, are operated fully or partially by the government. Public health insurance may be made mandatory or high taxes may be cut from the rich masses or employees whose income is relatively high compared to the average earning mass.…

    • 1189 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    Capitalism on the other hand is focused on working for individual growth, and personal ownership to provide wealth for one's self. Communism places the economy in governments hands, while capitalism removes the government from the economy entirely. Communism sets direct demands on the work you do and what you need to produce, so others can benefit as well as you from your hard work. Communism asks the government to decide what is needed for each individual to live and be equal. The government tells the community what demands need to be meets to produce and distribute enough materials equally. Capitalism depends on supply and demand instead of quotas, in order to make sure there is not too much or too little of certain products. If there is not enough of a product wanted then the price will rise, which will in turn cause production to increase. Once there is more than enough of that product on the market, the demand will begin to drop, resulting in the price and production to drop and so on. Capitalism creates a system where peoples first concern is themselves, rather than the others, making things a personal investment instead of community investment. Communism is built on the idea that humans are inherently just, and as such will work not just for themselves, but for their countrymen as well. Capitalism is built on the idea…

    • 814 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Capitalism Vs Healthcare

    • 1015 Words
    • 5 Pages

    Socialism and capitalism are, without a doubt, two somewhat opposing economic thoughts and system. Most of the arguments that come up when debating about these systems center on equality and the role of government in our economy. Socialists' beliefs include the idea that inequality is inferior to the success of the economy and society, and that…

    • 1015 Words
    • 5 Pages
    Good Essays