Essay on North Kore A Theory Or System Of Social Organization

Essay on North Kore A Theory Or System Of Social Organization

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Just how bad are pure socialist economies? North Korea is the most well known socialist nation. The government came to control all economic decisions in the country. Most of the country’s resources were sent to the military. The country also used its resources on developing a nuclear program. The military growth used up all of the country’s necessary resources. In the late 90s and early 2000s, the majority of the country was suffering from hunger and malnutrition because food was scarce. Millions ended up dead, and those who survived only did because of the aid from other countries (like South Korea and other capitalist countries). The failure to provide food foe the country was due to their flawed economy. North Korea began to produce less and less every year. Once the restrictions on private ownerships and market activity were relaxed, the economy began to grow again. The free markets eventually were the reason for why the country was able to revive the failing economy. What is socialism and capitalism exactly? Socialism is “a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, and labor, in the community as a whole”(1). Whereas capitalism is “an economic system in which investment and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations…”(1). The only way to provide a suitable way of living and a “fair” economy is by having a capitalist economy. While some argue that pure socialism is the best economic system, the truth is that pure capitalism is the better economic system to live by, because economic freedom, efficiency, and growth...


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...he only answer to a successful economy because it allows people to control their own life and have the product market they want to have. With a capitalist economy, individuals and businesses have the ability to make maximum profit off of goods or services. Today we see the way that North Korea continues to live and we judge. Countries who are privileged to have capitalism do not understand the struggles that living a socialist life come with. For example North Korea is very far behind the development of weapons compared to the rest of the world. This is because the government has put countless restrictions on outside communication and receiving help from other nations. With minimal government involvement a capitalist economy brings, large businesses are able to thrive, and those that are weak will sink. Capitalism is the most beneficial economic system to live by.


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