Comparing Capitalism and Socialism

Two of the world’s most popular and diverse economic systems are Communism and Capitalism. Capitalism, or a free enterprise economy, is an economic system constructed by the freedoms of the marketplace. The capitalist economy has several promising advantages. The capitalist government subtly changes and adjusts to the current conditions with ease. A communist system can be defined as an economic system where many, if not all, factors of production are controlled and owned by the government.

A Capitalist Economy vs Socialist Economy There are a variety of economic systems today, which can influence how prosperous we will be as individuals or as a group. Socialism is an economic system where the government will be greatly involved in the economy. In a socialist economy the government can control many industries, provide public institutions such as health care and education, and equalize incomes of the population. A socialist economy is one of low unemployment and stability, where the government sets production quotas and price regulation upon their perception of the needs of the economy.

Capitalism is the best economic system for any country because it allows individuals to make their own business decisions, and be self-motivated, it confines the authority owned by the government. Capitalist countries are more technologically advanced and better educated as compared to socialist countries. Capitalism is different from socialism in many respects.

There is a vast difference between the economic systems of capitalism and socialism. While both are ways to govern a country’s market, they vary tremendously when looked at in depth. Capitalism is more effective and it encourages business growth and economic risk.

Socialism and capitalism are two very different economic/industrious systems but, in some ways, they share a few similarities and that is what this essay will be discussing. The comparison between the two systems and their advantages and disadvantages for those who live in such societies. Socialism and capitalism are marginally contradicting scenarios offering advantages and disadvantages in the world of production and financial assistance.

     Throughout history, there have been many systems developed in order to have a better society. Two of the most analyzed, and debated systems that have tired to change an economy for the best are communism, and capitalism. Communism, and capitalism have been compared on many levels, such as why they will or will not work, and which one works better. Throughout this essay I will concentrate on the differences, and similarities of how each operates, along with the benefits, and problems that each of them produces.

As mentions before socialism is the doctrine that espouses public ownership or control of a major means of production. It aims to achieve an equitable and efficient distribution of social goods and greater economic planning then exist under capitalism. Although the central concerns of socialism appears to be economic its ramifications extend to the moral, social and political realms, in fact together with nationalism, it is the leading ideological and political movement of the 20th century.

For more than a century capitalism and socialism have been contending to be the best economic system. Socialism is a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. Capitalism is an economic and political system in which a country’s trade and industry that is controlled by private owners for profit. Capitalism is the heart and soul of America 's economy. A capitalist economy can take a person from rags to riches or from riches to rags depending on the path that is taken by one’s free will. This concept has made many American citizens wonder if the capitalist path the path worth taking. There have been radicals throughout the history of the U.S. who were not satisfied by the capitalist system as well as its ideals. One of those radicals, Huey Long, a Democratic populist who was a senator of Louisiana from 1932-1935, gave a speech entitled “Share Our Wealth” on February 23, 1934. The speech supported the ideals of socialism by suggesting equal distribution of wealth throughout the nation. Socialism may have its perks but capitalism is the best path to take since capitalism provides society with more benefits through economic competition, prosperity, and a moral system that promotes self interest.

Accordingly, one idea or fact that is often raised to differentiate socialism from communism is that socialism in general is the political movement that refers to an economic system in that they believe that the state should be in charge of all important producing industries thus taking hold of the control of free market in order to promote economic parity and egalitarianism. Theoretically, socialism seeks to distribute wealth equally among its citizens in a way that the rich don’t take

In this paper I will be focusing on socialism and capitalism then exploring the different theories within. In addition, the elements of socialism and capitalism will be covered and compared with each other. This paper is a full analysis of socialism and capitalism, the ideas within, the elements of the economy and how they are applied in the world.

Comparisons between countries and regions before and after the advent of capitalism in Eastern Europe, Russia and Central Europe as well as a comparison of Cuba and the ex-communist countries provide us with an adequate basis to draw some definitive conclusions. Fifteen years of "transition to capitalism" is more than adequate time to judge the performance and impact of capitalist politicians, privatizations, free market policies and other restoration measures on the economy, society and general welfare of the population.

Do two wrongs actually make a right? In the case of creating a perfect economy, that is true. Pure capitalism and socialism both have many flaws, but when they mix together you have an almost perfect economic system. In a pure capitalist society, there would be no ceiling and no floor. 98% on the citizens are in the middle but the the 1%’s are 100 times more rich than the rest or 100 times more poor. If you are disabled or old, the government would not help you more than someone having everything going their way. A pure socialist society is the exact opposite. Everyone would get the same luxuries, necessities, and money given. Even if one man works 12 hours a day and the other works 12 hours a week, they will be treated with the same respect

This essay will compare the economic principles of capitalism and communism by giving brief historical background on both and describing the two. I will begin with the father of economy, Adam Smith, and finish with the theories of Karl Marx.

The purpose of this research paper is to explain the difference between socialism and communism as well as to look in more detailed as to what problems arose in the countries that have practiced socialism or communism. Based on the evidence found upon the research we will be able to find an answer to the question: “Can capitalism and socialism exist simultaneously?” To end the research paper we will look at some of the socialist elements that are practiced in United States.

It is much better to live in a country where difference between poor and rich is noticeable, than to know that a person will never differ from others in his or her own country. My essay will be based on the following the definition, characteristics’, types of capitalism and socialism, features, socialism as alternative to capitalism and social change and economic development. What is capitalism? Capitalism is an economic and political system in which all means of production and distribution are privately owned and operated within a free market society. What is Socialism? Socialism is an economic and political system in which all means of production and distribution are collectively owned and operated by all members of society. They both have pros and cons capitalism promotes free market system, people are free to create almost any product or provide service and it has self-regulating system. In capitalist system you have choices, incentives and freedom, another thing about capitalism is that it aims to preserve economic freedom from excessive government control. Most capitalist believe in in the French expression Laissez-Faire, which means “leave it alone”. Capitalism term by Karl Max it is whereby small group of people own large amount of money, land and resources. It is has profit motive. In capitalism things are made well enough to outdo the competition in order to maximize profits. It’s a dog eat dog world, the survival of the fittest.