Capitalism Vs. Socialism : The Transitional Period Between Capitalism And Communism

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Capitalism versus Socialism
In the theories developed by Karl Marx, socialism is considered the transitional period between capitalism and communism. For a long time, capitalism versus socialism has been argued and debated. Socialism is an economic system in which goods and services are provided through a central system of government and aims to make everyone equal. They have different forms of socialism that have different beliefs. Some of the biggest disadvantages of socialism are that it relies on the cooperative effort of the people to work. Another downside would be that the people would be as innovative in a socialist society. But in this society, no one lives in poverty and the people work at what they are best at and what they
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Socialists reward those who treat money poorly and penalize those who treat money well. Another disadvantage is that because everyone earns the same amount, not many people would be as innovative as a capitalistic society. Socialism is unassumingly limited, so that if workers are done with this type of economic system, the people could try and overthrow the government. Another issue is inflation, socialism by itself cannot. Usually, the socialists in power view money as morally bad and don’t consider that money is a limited resource. As a consequence, a lot of socialists that gain power rapidly increase public debts and print money to finance their actions. “Without fundamental reform to restore a stable currency and private incentives, the people of Venezuela will continue to suffer. Venezuela is at the mercy of world oil prices, despite sitting on top of the world’s largest proven oil reserves. Chávez implemented policies to expand access to housing, education, medical care, and food and paid for them with revenue from oil exports. This complete dependence on oil left Venezuela vulnerable to changes in its price. In 2014, oil prices began a steep decline, falling from over $100 a barrel in the summer of 2014 to a low of around $33 dollars a barrel in early 2016. Printing money closed the budget shortfall. Hyperinflation took hold, destroying the savings of
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