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Comparing communism and capitalism
Comparison between communism and capitalism
Compare and contrast communism and capitalism
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1) In chapter one, it is stated that the studying of economics, according the author, Charles Wheelan, is how to make the most out of life. A free market economy allows people to do what they are good at, and in turn help themselves lead a better life by making more money. Citizens do better when doing jobs that they enjoy, and a free market economy allows for this to happen. When comparing a free market economy (Capitalism) to Communism, they both have one similarity. They both allocate things being
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Communism ensures a lot of power and equality, as in “Harrison Bergeron”; however, the acts of both governments differ from each other and from the U.S. government. Communism today has no copyright laws, no private property laws, and the government owns the economy in its entirety. Communism stresses the ending of both religion and the entire morality established upon religion. Communism theoretically tries to improve respect within society, but instead it abolishes all concepts of morality (Communism and Amorality). The structure of communism encourages the establishment of classless and stateless society based on the common title of the means of production (Structure of Communism).It tries to offer an alternative to the problems assumed to be inherent with capitalist economies and the heritage of imperialism and nationalism.
The right for an individual to exercise his or her own economic rights was created, allowing anyone to handle their own economic issues. You are allowed to earn as much money as possible from your products. The Bourgeoisie owned the factories and earned all of the money from the products that the workers made. Communism is the study of how everyone is at peace and works together. There is no need for competition or armies because no wars are going on.
Written in 1889, Gospel of Wealth, is an article by Andrew Carnegie which discusses the responsibility of philanthropy by those with surplus wealth. Carnegie strongly disapproves of the phenomenon where wealth is bequeathed. Rather, he argues that the best way in distributing excess money is for public benefits. Carnegie is opposed to any display of extravagance, squandering, or greed because these create wealth inequality. Although Carnegie believes that wealth inequality is inevitable, he thinks that if the wealthy spend their surplus money cautiously, then society would be genuinely enhanced. Three modes of disposing excess wealth arise; families leaving their money to their descendants, spending on public projects, or simply administering during the lives of the wealthy themselves.
As an attempt to make the economy better Karl Marx a philosopher thought up the philosophy of Communism. A communist government plans and controls the economy, also has an authoritarian that has total control. Often the authoritarian claims that he will progress toward a higher social order in which the people equally share all goods. Although, the citizens in Harrison Bergeron in the same way “equal every which way” in the economy but, they are also “equal every which way” in physical characteristics (Vonnegut). In which the people know that they are unequal and that is why they have the handicaps.
The capitalists owned everything in the world, and everyone else was their slave. They owned all the land, all the houses, all the factories, and all the money. If anyone disobeyed them they could throw them into prison, or they could take his job away and starve him to death. When any ordinary person spoke to a capitalist he had to cringe and bow to him, and take off his cap and address him ...
Though both Communist Manifesto and “An Appeal to the Young” explain benefits of communism in contrast to capitalism*, the texts differ in style and the ways they explain the advantages of communism.
Though the rewards are pleasing to the ear, the path to obtaining the benefits of communism is a violent one. This strict governing idea was derived from Communist Manifesto, a book written by two German economists, Karl Marx and Fredrich Engels, who declare that many problems in society are caused by the unequal distribution of wealth. These two believe that “Communism deprives no man of the ability to appropriate the fruits of his labour. The only thing it deprives him of is the ability to enslave others by means of such appropriations.” To achieve the goal of happiness and prosperity for all, the lines that distinguish the differences between the rich and poor must be erased. Obviously, the rich will never voluntarily give up their goods or status; therefore the figureheads must force equality among the citizens. Communism places their citizens, whether they be the wealthy or the laborers, into working classes that specify their contribution to the government. With such balanced placement of the people, individuality is impossible for any single person to achieve.
The Communist Manifesto described and foretold the negative outcomes that come about through the effects of capitalism. Capitalism creates a social struggle for society between the wealthy and the poor, as described in this “condemnation.” More accurately, it states that “it concentrates wealth in the hands of the few…” In a basic assumption, the Manifesto believed that Communist revolutions would occur in low industrialized countries and capitalism was the main source of economic distraught and class struggle. These views came to light, as countries like Russia and China turned to communism. However, some countries did not succeed completely with this transformation as did the Soviet Union. The attempt to increase the overall economy for the
The essential nature of capitalism is social harmony through the pursuit of self interest. Under capitalism, the individuals pursuit of his own economic self interest simultaneously benefits the economic self interest of all others. In allowing each individual to act unhampered by government regulations, capitalism causes inventions, prosperity and ideas to be created in the most efficient manner possible which ultimately raises the standard of living, increasing opportunities and makes available an ever growing supply of products for everyone.
Capitalism is clearly concerned with individualism and private enterprise. Communism is the completely different from Capitalism in the distinct way the government is involved as well as the treatment of people. People are much less important in communism. The gain of society as a whole is the most important and takes priority over individuals. The structure of the social class is a significant difference in capitalism and communism.
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.
It is clear that capitalism is more advantageous than communism in every aspect in the economy. All stakeholders such as common people, state, government, banks, and investors will benefit more in a capitalist economy. The best way to describe a communist economy is as an old lady who is demotivated in her life and just wants to eat and sleep, while a capitalist economy can be described as a motivated young man who wants to keep achieving more and more in his life.
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.
One of the first and major differences between a Communist and Democratic government is their contrary economic systems. In a communist government, the community owns the major resources and means of production. The goal of such a system is to prevent any one person or group of people from becoming radically rich, while others are extremely poor. The system attempts to eliminate lower class by balancing the wealth between rich and poor, therefore giving everyone equal pay and ownership. Unfortunately, this results in an increased lower class. However, in a Democracy, free enterprising is permitted, and smiled upon. ? Here, free enterprising helps the economy to flourish. People can organize their own businesses and receive their own profits if it succeeds, or debts if it fails. In this system, the harder a person works, the more money they receive, allowing them to ‘make ends meet.’ The downside to democracy is that people can get a high paying job through education, but may work just as hard at a lower paying job and receive less money. As Winston Churchill once said, "The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries." Generally, Democracy’s seem be more successful economically.