Capitalism vs. Communism Essays - Socialism, Economic Ideologies

Capitalism vs. Communism Essays - Socialism, Economic Ideologies Mrs. Rogers Period 1 May 7, 2013 Capitalism vs. Communism Throughout history, there has been two major economic systems, these are Capitalism and Communism. There has been argument to which form will benefit and flourish the country more. Communism was first presented by Karl Marx, in the mid 1800's due to the problem of seeing that a countries wealth was unevenly distributed to its' people, while Capitalism is the more dominant system, it has originated in Europe and has spread throughout the majority of the world. The United States included has adopted the system of Capitalism and has practiced it since the 1900's. Although several super-power countries have adopted communism, capitalism remains the favorable, but both economic systems has its own pros and cons. Capitalism has several key features that define it and that sets it apart from communism. It has great differences compared to communism, because in a capitalism economic system, the market system is controlled the people. The production of goods, and distribution of wealth and goods in an economy is based by the private companies or the people, and is not strictly controlled by the government. Economic activity is also influenced by the buyers and sellers in the economy, and owners of the land and capital are free to pursue their own self-interest, and they are also given sovereignty. Self-interest also drives the economic, and government interference is minimal compared to a communism system. Competition in a capitalism system is what drives the system to be successful, and due to our freedom in the economic system, the countries economical state is self-regulated by its citizens. In a capitalism system, the person determines their place in society. Their hard work and initiative c an be the key to their role in society, while also focusing in the progress of their own life. Some people achieve more goals than others because they make use of their skill better in a capitalism system, where in a communism, a person investing less time than another person at the same labor is guaranteed the same result. Communism introduces a system, where everyone is equal. Communism implements the idea, that everyone in the society is subject to equal wealth and place in their society. It has the potential to be a successful system, but the way communism has been used in the past is wrong. Under communism, people are receiving the same property and income with the different labor they have completed. This type of economy can discourage people to their best, unlike in a capitalism system. This lack of encouragement can deeply affect the growth of an economy, and it can discourage people to do their best and beyond due to the fact that no matter how much effort they invest, they will receive the same wealth and place in society than someone who is invested very little. The government's role in communism is great, they strictly control production of any goods being produced in the economy. They also control and can fluctuate the resources and production of certain goods. While communism can be a symb ol for abolishing private property, capitalism can stand for private property. Communism also stands for a classless society, in where everyone sees each other as an equal and where there is no rich and there is no poor, unlike in a capitalism system, the performances of an individual determines their class in society and determines. Both systems are unique in their own way. Throughout history, it has been proven that Capitalism is the more dominant system over Communism. The majority of the countries in the world adopted capitalism, while communist were practiced in some countries, it is starting to collapse. The flaws of both systems is clear, while communism leaves no one behind, it can withheld growth of the economy, but in a capitalism system it will flourish but may leave people behind. In a communism system, the society is above individuals, but for capitalism, individual freedom is above the state or society and the great divide provided in capitalism, will be nowhere to be found in communism. Page "Capitalism."Wikipedia. Wikimedia Foundation, 05 July 2013. Web. 07 May 2013. http://en.wikipedia.org/wiki/Capitalism Communist State Wikipedia, Web. 07 May 2013 "History of Communism."Wikipedia. Wikimedia Foundation, 05 Apr. 2013. Web. 07 May