Pros of Capitailism and Socialism
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- Date Submitted: 10/27/2012 05:06 PM
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Pros of Capitalism and Socialism
PROS:
Capitalism increases the opportunities for entrepreneurs to increase their personal wealth and for societies to grow as well. It also increases the opportunities in the market place for personal economic growth. Hard work is rewarded under a capitalist economy.
In a capitalist economy, consumers can work towards riches and financial freedom. A competitive market results from capitalism and consumers are presented with a wide array of products and services to choose from. Consumers and companies regulate the free market. This is often seen as one of the strengths of capitalism.
Socialism seeks to promote equality among people by providing them with many of the same benefits. Examples of benefits that individuals in a socialist economy are provided are educational, health care and care for the elderly and vulnerable. Socialism means paying for things without necessarily expecting a financial return, just for the greater good. One of the pros of socialism is that it seems to be a way of achieving slow, but peaceful, progress. That is, at least a goal of socialism.
Capitalist (capitalism)
Capitalism is an economic system where the means of production are owned by private individuals. Means of production refers to resources including money and other forms of capital. Under capitalism you work for your own wealth.
Socialist (socialism)
Socialism is an economy where the means of production such as money and other forms of capital, are owned by the state or public. Under a socialist system everyone works for wealth that is, in turn, distributed to everyone.
PROS:
Capitalism increases the opportunities for entrepreneurs to increase their personal wealth and for societies to grow as well. It also increases the opportunities in the market place for personal economic growth. Hard work is rewarded under a capitalist economy.
In a capitalist economy, consumers can work towards riches and financial freedom. A competitive market results from capitalism and consumers are presented with a wide array of products and services to choose from. Consumers and companies regulate the free market. This is often seen as one of the strengths of capitalism.
Socialism seeks to promote equality among people by providing them with many of the same benefits. Examples of benefits that individuals in a socialist economy are provided are educational, health care and care for the elderly and vulnerable. Socialism means paying for things without necessarily expecting a financial return, just for the greater good. One of the pros of socialism is that it seems to be a way of achieving slow, but peaceful, progress. That is, at least a goal of socialism.
Capitalist (capitalism)
Capitalism is an economic system where the means of production are owned by private individuals. Means of production refers to resources including money and other forms of capital. Under capitalism you work for your own wealth.
Socialist (socialism)
Socialism is an economy where the means of production such as money and other forms of capital, are owned by the state or public. Under a socialist system everyone works for wealth that is, in turn, distributed to everyone.