Just how bad are pure socialist economies? North Korea is the most well known socialist nation. The government came to control all economic decisions in the country. Most of the country’s resources were sent to the military. The country also used its resources on developing a nuclear program. The military growth used up all of the country’s necessary resources. In the late 90s and early 2000s, the majority of the country was suffering from hunger and malnutrition because food was scarce. Millions ended up dead, and those who survived only did because of the aid from other countries (like South Korea and other capitalist countries). The failure to provide food foe the country was due to their flawed economy. North Korea began to produce less …show more content…
The free markets eventually were the reason for why the country was able to revive the failing economy. What is socialism and capitalism exactly? Socialism is “a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, and labor, in the community as a whole”(1). Whereas capitalism is “an economic system in which investment and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations…”(1). The only way to provide a suitable way of living and a “fair” economy is by having a capitalist economy. While some argue that pure socialism is the best economic system, the truth is that pure capitalism is the better economic system to live by, because economic freedom, efficiency, and growth make life more suitable for …show more content…
If an individual wants to open a dental practice out of their tool shed in their backyard, they can. Economic freedom allows people to literally have freedom. Capitalism answers the three economic questions (who produces, what is produced, and for whom) by creating a product market based on what consumers want. By illuminating small businesses, the larger ones can be more successful at answering and fulfilling these questions. Economic freedom also ensures that government interference will not occur. Freedom also gives workers the freedom to change jobs. An employer cannot contract in an employee and cannot blackmail said employee for quitting. The worker has the right to switch jobs to better their life. The next key economic goal is economic efficiency. Economic efficiency is the ideal use of all scarce resources. This prevents waste and helps ensure the lowest cost possible for a product. Efficiency allows employers to fire employees who are old, sick, or anyone who slows down the production. The employers are able to fire employees without any repercussions such as workers’ protection laws. Employers are also allowed to hire child workers. When an
However, they also had a much wider reaching idea of democratic control over the economy . This is where I tend to disagree with Sinclair and socialism. He mentions corruption in the system at the time and implies that socialism may be a system without corruption. I don’t feel that a political and economic system ran by the people is any less susceptible to corruption than capitalism is. After all, it is still just people and people will do dishonest things for power. America was built on capitalism and it definitely has its flaws, but I feel that it promotes prosperity best when paired with democracy. The socialist movement played a great role in reshaping the US capitalist system. It definitely needed tweaking in the early 20th century, and still does, but the socialist ideas help push us in the right
Free enterprise is very important in an ever growing world. The idea of free enterprise, or capitalism, is that any individual has the opportunity to create a business and sell a good or provide a service with almost no government intervention. A capitalistic economy helps both the supplier of goods and the consumer of the goods. One of capitalism’s basic principles is that an individual works hard for incentives. Free enterprise means that businesses are directed by the laws of supply and demand. Capitalism also forces businesses to produce things in an efficient way. Another great aspect about free enterprise is that there is a lot of flexibility in the economy. These are just some of the many factors that make a free enterprise economy so important.
Chronologically the North Korean Nuclear Program stems from the early 1950s; however, the program has its deeper origin back in 1989 during the conclusion of the Cold-War era. The year 1989 marked the deterioration of the Union of Soviet Socialist Republics (USSR) as the primary financial supporter of North Korea. The North Korean nuclear program can be simplified into approximately four different phases over time; moreover, the chronologies of these four main phases predominantly address the unresolved tension between the United States of America and North Korea. This timeline also involves the influences of the other participants of the Six-Party Talks (which comprises of and is not limited to China, Russia, South Korea, and Japan). From 1956 to 1980 phase one was first and foremost the preparation and gathering of scientific knowledge to advance nuclear measures. Then from 1980 to 1994 phase two dealt with the progression and subsequent disruption of North Korea’s national plutonium manufacturing program. The years 1994 to 2002, or phase three, are the overlapping periods of the nuclear freeze that halted domestic production of radioactive material for military purposes. Finally phase four (from early 2002 to current times) covers the present concerns for North Korea returning to nuclear programs.
What do you think of when you hear the word “famine”? Do you think of natural disasters, of unpredictable tragedy, of innocent lives lost? Tragedy and death are inherent to the concept of starvation on a large scale, but the nature of some famines may have as much to do with politics as it does with the environment. What I expected to uncover as I began my research on the 1994-98 famine in North Korea was food shortages on a massive scale as a result of terrible growing conditions, extreme climates, unpredictable and unpreventable circumstances, for the most part. Admittedly, my knowledge of famine was limited to what I knew of the countryside of pre-communist China, where the most sustenance provided by the land the bare minimum was, and any number of external changes negatively effecting growth of or access to crops could equal devastation for entire regions. With that as my frame of reference, I was surprised by the uniquely political circumstances behind the famine in North Korea. The famine that killed 2-3 million in the 1990's was more closely tied to its independence from the southern half of the Korean peninsula it had once shared, to the fall of communism and the Soviet Union, than to any singular natural disaster. The millions that died did so as a result of their government prioritizing its independence over their survival, its budget over their sustenance. North Korea's famine was born of 1950's conflict, fueled by 1990's politics, and sustained by human error and hubris from within.
after this period, but it did not meant that the country was engaging in the ideology of a pure socialist system. It is important to mention that a welfare state is: the intervention of government that aims to create equitable economic and living conditions among the citizens. The government provides all the physical, social, and materials needs, rather than the people obtaining it themselves. There is a redistribution of wealth by taxing the middle and upper class that aims to help the underprivileged with multiple and different social programs. In contrast, a pure socialist system is when a population collectively owns and controls all means of productions that at the end is distributed proportionally. However, a socialist society does not engage in profit accumulation like a welfare state does to provide welfare programs. The welfare state has been engaging in social welfare programs, that led to an overall conclusion that a welfare state combines socialists beliefs to better improve the economy and to provide adequate living
Capitalism is what made our country strong, and it needs to be protected from its enemies. The study of capitalism reveals that this type of system inspires creative thinking and rewards successful innovation financially. This drives the economy forward in an excellent way. In his article, Arthur Brooks makes a strong argument which validates the need for free enterprise to remain unrestricted, and free to execute business unfettered (Brooks 545). He points to the intentions of our government, in its infancy, by quoting Thomas Jefferson, in regard to our economic system. Jefferson said at his first inaugural address "A wise and frugal government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of bread it has earned" (qtd. in Brooks 545). In contrast, socialism is a system that advocates the control of production and distribution, of capital, and land. Socialism is more closely related to a command system, such as communism, than it is to capitalism. Communism distributes wealth equally to all. Robin hood is a fascinating tale that can be a demonstration of communism. Take from the rich and give it to the poor. Most people do not consider themselves to be wealthy. That is because it is human nature to alway...
After the Korean War, when North Korea had to begin fending for itself, it had to run on very little money for a lot of people. North Korea has always been a country of extreme poverty, as a result of Kim Il Sung’s dictatorship (Kim 135). Another reason for the creation of the Public Distribution System was for the government to have total control over the people. Kim Il Sung had all the power and manipulative abilities, and those traits have continued through the decades to his descendants. According to Kaplan and Denmark (2011), “Kim Jong Il consolidated power before and after his father’s death and cannily manipulated the Chinese, the Americans, and the South Koreans into subsidizing him throughout the decade”(pp. 10).
Donnie Gladney Tyler ENG 1020 – 110 29 October 2017 Bombs Bursting In Air… Must Be Nuclear Warfare The continuous hostile series of relations between the US and North Korea stretches all the way back to 1950 -1953, during the Korean War. According to Sebastian Kettley’s “Why does North Korea hate the US” an article published by Express.co.uk, The USSR the US divided up the Korean Peninsula in August 1948, along 38th. Warfare later commenced in the 1950s when Kim Il- Sung’s North Korean army tried to invade the south.
The light does not shine from this spot on the earth. The area around it, across from it, and far away from it, does not shine on this spot on the earth. It is unstable, unreliable, and unsafe to encounter this spot on the earth. Lead by a single person, fueled by nearly 25 million; this dark spot on the earth fills the world where light is not. This spot on the earth travels through media, the economy, and politics, affecting billions with darkness.
Imagine having to work a 100 hour work week as a slave, being so desperate for food that you eat snakes, rats, and human corpses to stay alive, and being forced to witness public executions of your closest family members. This is the reality for the 176,000 political and associative prisoners living in North Korean prisons with no rights, no trial, and no reason. The world will have to regard the human rights abuses in North Korean as an important issue if we wish to stop the torture, murder, and starvation that it enforces on its people.
North Korea’s nuclear weapons program presents one of the most complicated problems for US policymakers and diplomats, one that has confounded multiple presidential administrations. So far, American attempts to curb North Korea’s nuclear ambitions have failed, and the North shows no signs of slowing its development of nuclear weapons. In fact, the problem is only getting worse for the US. On November 28th, 2017, North Korea conducted a ballistic missile test that demonstrated a potential range of over 8,000 miles, giving it the capability to hit any part of the continental US. Clearly, it is not in the interest of the United States to have an adversarial state capable of a nuclear strike on the US mainland.
The Democratic People’s Republic of Korea (DPRK), otherwise known as North Korea, are continuing to construct and advance their nuclear weapons program while facing continued resistance from outside forces, such as the U.S.; the shared part of the Peninsula, South Korea; Russia; China; and Japan. The United States under Trump, as well as under the more recent presidents (Clinton, Bush, Obama) who dealt with the North Korea nuclear weapons program, would like to see the complete denuclearization of the North Korean state. The issue, though, is not quite as simple as applying pressure and that resulting in the abandonment of North Korea’s nuclear weapons program. Moreover, the situation is becoming increasingly complex, arguably more so than it was under the former presidents—as North Korea claims the capability of launching nuclear missiles that could reach U.S. mainland. Though all of the powerful states aforementioned are trying to apply pressure on North Korea, there is not singular objective shared by the key states allied together.
If one looks at liberty and individual freedom, it is evident that command economies tend to oppress their citizens. Therefore, socialism, which allows for basic needs to be met and personal freedoms to be upheld, is the best economic system for all of a country’s citizens. Market economies, as a whole, inherently and inevitably lead to poverty and a large class disparity. In a capitalist society, the ones who supply labor, the ones who work the hardest, are the ones who are paid the least. The owners, who are already rich, receive most of the profit and accumulate large masses of wealth.
Capitalism is an economic system in which the production and distribution are privately owned, the government involvement is minimal,and there is free enterprise. In Capitalism, the means of production are privately owned and operated for profit in a competitive market. Also the economic investment, ownership and profits are all owned by individuals. Under capitalism the state is separated from the economy, which means that the government has no role in business. In other words, everyone works for themselves. The market forces in a capitalist country runs by supply and demand which it determines the price and later on it turns into profits. Supply is the quantity of goods and services a business is willing to sell, while Demand is the quantity of goods and services consumers are willing to buy. Therefore, Capitalism is the best economic system because it rewards the ones that work hard and since the government does not control trade, there is a large variety of goods and creates options for consumers to fit their personal needs.
A nation’s innovation system is shaped by how the nation leverages its endowments—natural resources, culture, history, geography, and demographics—through policies that create a thriving market-oriented economy and accelerate the transition of new technologies, processes, and services to the market (Branscomb and Auerswald 2002). The aim of this assignment is to evaluate South Korea’s innovation policies, in light of its latest ranking as the second most innovative country in the world.