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Capitalism Is Better Than Capitalism

773 Words4 Pages

The past hundred years give or take has given society many number of conflicts, many of which revolve around economic systems. The method of which the government runs a certain state not only symbolizes the way they handle their officials, but also symbolizes how their production is handled. The economic systems mentioned will be centrally planned systems and market planned systems. Although these could be characterized as many different economy systems such as socialism, only communism and capitalism will be discussed. By proving that the communistic and capitalistic systems both have positives and negatives, choosing which is best is simply not realistic. Rather than choosing which is best, it is more important to decide which system is better …show more content…

Production is based on a need / demand market that incites people to do what can do, but better. Private institutions and employers employ labourers through contracts or salaries that could produce the product. This product is then sold by the private company to whomever wants to pay the most for it. Market economies push innovation further as everyone is trying to be better than one another, which resultantly increase total production. This raises production as everyone wants to make as much profits and advancements that they can differentiate themselves from other companies (economicshelp, 2017). Whoever does the most research and studying will be rewarded with fame, wealth and power. Capitalism is an economy that comes with poverty with a large gap between the rich and the poor. Large amounts of the money in a society is gathered up by a small amount of people owning large sums of money. Capitalism favors the capitalizing on opportunities and doing the best you can do to reach the top. This is not always the case as most industries in big capitalist markets such as the USA is heavily owned by large conglomerate companies such as banks, oil, real estate and retail. In total, capitalism increases total production with incentives, but does not have equality as the wealthy control more than the less

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