Capitalism And Socialism : A Capitalist Society Essay

Capitalism And Socialism : A Capitalist Society Essay

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Within a capitalist society, the economy runs through private companies owned by individuals. Decisions over the use of production are made by the owner of said company. Citizens and corporations are free to decide how they spend their money. They are able to reserve it, donate it to charity, or buy products, services or property. This freedom of wealth is caused the free market. The free market is all those things that money can purchase, and the persons can act freely related to whether they want to buy it or what they will buy. Inside a socialist society, no individual should the privilege of privately owning land, money, or industry. Instead the whole community would have collective ownership of land, goods and production. The intentions of a socialist society for the citizens to everyone works for wealth that is later distributed to everyone. In this society, there is no free market as the governments provides for the people, and is paid through higher taxes. Capitalism and Socialism are two monetary techniques which have opposing views on end objectives and how to achieve it. Capitalism is situated on privatization and competition whereas Socialism is controlled through social equality. Capitalism’s center of attention is on aggressive economics, downplays social reform. Socialism’s attentiveness on social equality typically does not allows for rational economic decision making. Both have their strengths and weaknesses, and by exploring these two economic philosophies one could see how capitalism holds more benefits the economy and society and how socialism will only deteriorate it.
Capitalism’s free market results in rapid growth in its own society and other countries. Due to the fact that Capitalism has no boundaries of ...


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... for themselves and achieve any level of success or capital. If everyone’s goal increases their own wealth then the country’s economy will prosper as supply and demand will always increase employment, maintain the strength of the work force, and advance goods and services. Unlike socialism, that leads deterioration of the work force, economy and production. A socialist believes the willingness to relinquish wealth and status, for the benefit of the many, will result in a strong economic system and society, which is false. This is because if one work gets no more wealth or status than the other, there is drive to improve his or hers services. If a socialist society demands social equality, there will be no room for improvement. As there is no will to volunteer in the work force, the economy can never grow and just like communism, will only lead to economic depression.

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