Assignment 1: The Role Of Socialism In The United States

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1. Currently in the United States we run off of a capitalistic government. Socialism is where industries are owned by the government instead of by the people. Capitalism where the businesses and major production companies are privately run. I believe in capitalism because it means the government intervenes less; private firms own production and government don’t control prices. This political system tends to give more power to the people. Even though the people should trust the government, capitalism gives more freedom to the people which allow individuals to create a life for themselves. Capitalism’s pros are that they are privately owned, any individuals can own a business, company’s can create their own prices, and supply& demand is regulated by the people. Private ownership allows corporations including people to be able to own investments which would be land, and goods. Then there is the fact that anyone can create their own business if they have the money to finance their investment. Company’s can control the prices of any of their products without any interference from the government. They may increase or lower their prices however they may either competing with other companies who have the same product or altering the level based on the demand for the product or the supply. …show more content…

When the government is more in control the people follow whatever path was given to them which creates a society of people which don’t know how to make decisions for themselves. Even thought capitalism is a great political system there are con’s of this system. There are people who tend to abuse the system which has been put in place. The corporations in this system are able to pay less for people’s labor, and can choose to have a union or not. The larger companies are able to push out the smaller companies or buy them

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