Capitalism Is The Best Economic System Essay

Capitalism Is The Best Economic System Essay

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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.
Capitalism is the best economic system for many reasons. The first one is because the government believes in “ Laissez Faire”, which means “Hands off”. The government has no role in business and let individuals to take care for themselves. This creates an overall high standard of living because since the government does not control trade, there is a large variety of products.Moreover it creates options for consumers to fit their personal needs by having easy access to numerous products. However, the government does takes care for those who can’t take care of themselves by providing welfare and unemployment benefits to individuals in need and medical care for aged and low class people. Also, Capitalism i...

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...mproves the livings standards of the society overall. Furthermore, there are no better alternatives than capitalism because history has shown failures of communism and economies with too much government control.
Capitalism is the best choice for the United States’s economy because Americans have a choice and a say in the government. Capitalism creates an overall high standard of living by having easy access to numerous products and creates options for consumers to fit their personal needs. However, in order to survive in a Capitalist country, one has to work hard to achieve its goals. This creates competition between the people to be the best, which leads to improving society because it innovates technology, and globalizes the market. Capitalism creates an overall improvement in living standards for the people, something that Socialism and Communism doesn’t provide.

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