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Compare socialism and capitalism
What are the advantages of communism over capitalism
Socialism vs capitalism
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During the Second Industrial Revolution two philosophies combated each other on a global scale. Laissez-Fair economics had ruled for the last few centuries and had created many prosperous nations but abuses of power by wealthy men had turned public opinion against it. Ever since its creation, Socialism begged to be placed head to head with Capitalism and it had finally gotten its chance. Laissez-Fair economics and Socialism both have their pros and cons when implemented in society. The battle between these two ideological works its way throughout society alternating between the protests and debates in the U.S. today to the great terror of the Cold War.
Laissez fair economics remained popular for many years after their creation during the Enlightenment era. Many governments had seen the benefits of allowing their people to govern their own economic policies business grew providing concrete evidence of its effectiveness. The lower tax rates associated with a hands off approach remained popular with the people of any nation as did the increased in personal privacy. Laissez-Fair economics allows the free spread of ideas and the motivation that any man can make his tomorrow better than today. It is this motivation that causes men and women to rise from poverty to head of a multi-billion dollar business. No one will hand this sort of opportunity to you and there will be obstacles but the beauty of such a system is the possibility for growth and self betterment despite where you start from.
Even though it has incredible benefits a Capitalist society still has its drawbacks. To put it simply Capitalism encourages greed and certain abuses of power will always remain present in the system. Those who constantly attempt to ri...
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...market economics. These two styles of government clash over basic human motivation. Laissez-Fair economics have many benefits and better account for human nature. Its downfall is the greed and apathy of those involved as human corruption creates discontent in workers who can easily be enticed by socialism. A Socialistic government holds the promise of utopia and equality for those who have been downtrodden by society. Unfortunately such a society would never work as long as human beings are involved. With no ability to raise or lower your standard of living such a society quickly robs a person of their self worth and desire to contribute to society. While each society has its advantages and disadvantages Capitalism is the only society to survive for any length of time as all previous Socialist societies have become dictatorships before they reached a utopia.
The laissez- faire policy refers to the lack of government intervention and regulation of the economy, the ideology lies in the belief that the government would not aid nor hinder businesses (“Business of America. Laissez-Faire Capitalism and Government”). Presidents and a vast number of Americans before the 20th century supported the absence of the government in the economy, since it promoted competition and economic growth. For instance, during the late 19th century the U.S economy prospered from the lack of government intervention, resulting in a 400 percent increase in the economy ("Laissez-Faire.”). Although, the laissez-faire policy expands the economy; a lack of government interference and regulation of the economy grants companies with an opportunity to take advantage. Consequently, it enables for companies to control an entire industry and increase prices that hinder the consumer and eliminate
Throughout the 19th century, capitalism seemed like an economic utopia for some, but on the other hand some saw it as a troublesome whirlpool that would lead to bigger problems. The development of capitalism in popular countries such as in England brought the idea that the supply and demand exchange systems could work in most trade based countries. Other countries such as Russia thought that the proletariats and bourgeoisie could not co-exist with demand for power and land, and eventually resorted to communism in the early 20th century. Although many different systems were available to the countries in need of economic change, a majority of them found the right system for their needs. And when capitalist societies began to take full swing, some classes did not benefit as well as others and this resulted in a vast amount of proletariats looking for work. Capitalists societies are for certain a win-loss system, and many people did not like the change from having there society changed to a government controlled money hungry system. On the other hand, the demand for labor brought the bourgeoisie large profits because they could pay out as much as they wanted for labor.
A Comparison of Communism versus Capitalism Communism versus Capitalism is a debate that has raged on for over two centuries. Whether to allow everyone equal opportunities and to do with those opportunities as they please or to mandate class equality in order to keep peace has in itself been the cause of war. Karl Marx and Friedrich Engels saw the working class of the world—the proletariat—being squashed by the greedy business owners—the bourgeoisie. In their view, the bourgeoisie owned too much and the proletariat had no chance to make their own fortunes. In Marx and Engels Communist Manifesto, they propose doing away with private property, nationality, and even countries in order to take power away from the bourgeoisie.
First, what is capitalism? And why it is good and why it is bad. Capitalism is all about efficiency and get things done. “Capital” by itself means own, operation and trade for making benefits with the most efficient way. Capitalism focuses more on emphasizing on individual profits rather than on workers or society as a whole. Capitalism provides free-market that produces the best economic outcome for society. Furthermore, capitalism is not friendly for lazy and laid back people because in order to live in the capitalist society, people need to work very hard in order to survive. However, capitalism will compensate well for people who are working hard and give contributions to the society. That is its good side. Capitalism is a form of political society ...
Many people believe that capitalism has made a positive impact on the world, making it a better place to live in. Bill Gates, the founder of Microsoft, in his article, “Making capitalism more creative” supports this belief. He emphasizes how capitalism has transformed this world and how it would make life better off in the future. Gates also stresses on how governments and different companies can involve new people in the capitalist setup to decrease economic disparity. However, capitalism is not as beneficial as Gates puts it. It has a dark side with respect to economic inequality, government involvement, new markets and social responsibility.
In laissez-faire capitalism, there are no restrictions on business so the enterprising capitalists were able to obtain monopolies by combining with other companies or simply buying them out. By doing this, the owners could raise the price of their goods or services to an intolerable amount so that they could gain even more money. This often put the common working people out of a job because the owners could get children and poor European and Asian immigrants to do the same menial factory jobs for pennies a day. This angered the Unions of America because their livelihood depended on the American working class. The Unions then persuaded the government to regulate the business giants and control the amount of money the companies could take in by disallowing monopolies and child labor. The "Kings of Capitalism" disregarded the impact their actions had on the lives of the working class men and their families. Many went hungry because of the lack of jobs available and were forced to go into debt to the companies that was impossible to be repaid. The Robber Barons would do almost anything to gain more money and more power even putting hard working people out of their houses.
Marxism, Socialism and Communism have the same idea in common, the abolition of private property and Utopian Statism, a Far Left agenda. Marxism theorized that once the workers took over, government would wither away, but it did not. Socialism involves Marxist ideas and radical wealth redistribution and all property is seized by the government, this collectivism would cause multimillion slaughters, such as that of Hitler, Stalin, Zedong. Communism, where government is fully in charge of a new totalitarian state, has everyone working the benefit of everyone and government, almost always at gun point. Of all of these beliefs of equality and getting even with “the man”, all of them result in the abolition of liberty and individualism.
xx Lipset, Seymour. It Didn’t Happen Here: Why Socialism Failed in the United States. W.W. Norton & Co.
The policy of laissez-faire was that the government should have minimum interference in the economic affairs of individuals and society. The market would be able to stabilize itself given time. The businesses in the nation operate in a free market and there is little to no government regulation in businesses. Economist and philosopher Adam Smith had the influence of developing the policy of laissez-faire in Great Britain, which helped in receiving strong support in classical economics. The supporters of laissez-faire had the assumption in classical economics of a natural economic order as support for their faith in uncontrolled individual activity. British economist John Stuart Mill was responsible for taking this philosophy into popular economic utilization by setting forward contentions for and against regime activity in economic affairs.
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...
Socialism in short is a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. Wages were historically an issue for working foces since the beginning of paying wages. The issue of whether or not a wage could supporrt basic necessities is quite contreversial in the early nineteen hundred . Take one of America’s biggest industries, The Textile industry. In the early nineteen hundred 65.8 percent of all strikes were based off of wages.2 Even if you look at all strikes for all industries during the early nineteen hundreds 56.1 percent of strikes were about wages3 that is over half of all strikes being over wages.
Marxism, on the other hand, promotes laziness and sloth. When people no longer have to work for their food, they slack off. In a Utopian Marxist society, everyone is paid the same, no matter their job, no matter their skills, no matter their effort. As written in The West in Global Context “In the place of the numberless indefeasible chartered freedoms has set up that single unconscionable freedom – Free Trade” (Marx). Isn’t the entire point of government to give up some freedoms in exchange for others?
There has always been a debate nowadays over the topic of capitalism. Those who favor capitalism argue that it is doing more goods than bads for us. But people who criticize capitalism, on the other hand, hold...
Today, more than ever, there is great debate over politics and which economic system works the best. How needs and wants should be allocated, and who should do the allocating, is one of the most highly debated topics in our current society. Be it communist dictators defending a command economy, free market conservatives defending a market economy, or European liberals defending socialism, everyone has an opinion. While all systems have flaws and merits, it must be decided which system is the best for all citizens. When looking at both the financial well being of all citizens, it is clear that market economies fall short on ensuring that the basic needs of all citizens are met. 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.
It is this notion which gives the capitalists the opportunity and the means to exploit people in the society, through their wants and needs for an easy, nonchalant lifestyle. The problem arises when we start seeing these capitalists as saviors - as rescuers, and sometimes even incarnations of God - who save the people under them, from the hardened, miserable, and volatile life which they may have lead otherwise. It is at this moment where we commit our biggest mistake: put in our trust, faith and our life in the hands of these capitalists. They hardwire such people - make them feel like a prince, where in reality all they are, are peasants being manipulated and controlled to fulfill the personal objectives of these capitalists. It is in moments like these, where a person must realize, that all these comforts - these resources, these status privileges, the capitalists trust in them - are all but ‘baits’, intricately thought of and designed to ‘lure’ an individual into the trap from which - despite tremendous efforts - if caught, it is extremely difficult to escape from. It is, in moments like these, where one must develop and possess the mental