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Communism Vs Capitalism

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Capitalism, the major economic system in the world, is an ideology based on private property and accumulation of capital. In this system, private entities control the factors of production through corporations and businesses. The main idea behind this ideology, is that private property promotes economic growth and efficiency by stimulating competition and the development of better services. In addition to competition, the capitalist system relies heavily in the laws of supply and demand. The law of demand states that when demand for a certain product increases, price increases. When producers are able to supply more, they are able to increase even more the price in order to obtain a higher profit. In this economic system, the government plays a major role in preventing the formation of monopolies and in creating workers and environmental laws. For example, if a beef company begins acquiring most of its competitors, soon enough it will control the entire beef market. As a result, it can increase its price because people will have no other choice but to buy it. Therefore, it is the responsibility of the federal government to protect consumers from monopolies and thrusts. In regards to workers, by creating laws that …show more content…

The main idea behind the system is that it would solve the greatest problem of capitalism: The conflict between the worker class (proletariat) and the capitalist class. In this ideology, everyone would be equal and all goods would be available for everyone. However, Karl Marx envisioned communism, without government and private property, was never fully achieved. Instead, moderns communist countries have a strong authoritarian regime that tolerate no opposition to the system. Not only that, but economic and political communist countries such as Cuba, have shown no advancement in technology as Marx had

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Communism is a system in which the leader of that country holds power over all the country. In which can benefit some of the citizens such as the citizens that come from the lowest class have the opportunity to rise up. The citizens that come from a high class would be brought down so that everyone is in the middle class and everybody has the equal qualities. In order for communism to work the leader has to right to by the “owner” of everybody is owns a business. Also, communism was created by Karl Marx who believed that countries should be classless and stateless.

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He believed that “the people” should own the means of production and would not have to fear exploitation. This thinking had an impact on many societies, particularly the USSR (Union of Soviet Socialist Republics) in the twentieth century. In the “Communist Manifesto” Marx writes, “They (the communists) openly declare that their ends can be attained (achieved) only by the forcible overthrow of all existing social conditions. Let the ruling class tremble at a communist revolution. The proletarians have nothing to lose but their chains.

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• Antitrust laws are designed to prevent monopolies and promote competition, which benefits consumers by keeping prices low and

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Capitalism is the economic system in which it is free-market and free-trade. It is a competitive market and there is a comparative advantage; consumers want to buy the product that has the best quality at the lowest

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Capitalism can be defined as an economic system by private or corporate ownership, investments that are determined by private decision, and by production, prices, and the distribution of goods and services that are determined by competition

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Unlike the other two, communism is also viewed as a political system. Communism is a planned economy in which the government oversees practically all of the country’s enterprises (Kelly & Williams, Pg. 28). The idea behind communism and the benefit was supposed to be that of equality among all. Karl Marx, who founded communism, didn’t like to see extremely rich people while other people were struggling. However, the cons far outweigh the pros in this economy.

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Sometimes when people think of the word "Socialist," they almost immediately think of the Soviet Union, socialist France, or Bernie Sanders. While some of these might identify as socialist, others might not. The word holds too much of a heavy connotation to be used randomly. Rather, specifically, or with understanding.

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Before talking about the relations between two of the superpowers of the world at the moment,the concept of communism and capitalism should be discussed. There is no true example of capitalism or communism in the world at the moment, but some countries are more under one than the other. Capitalism: Capitalism is when individuals are allowed to own capital, land, etc. Countries that are under capitalism give individuals the right the right to purchase whatever they can afford, for example they can have their own houses, cars, businesses, etc., and all of these without any government interference. The U.S. is an example of a capitalist country.

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Definition of Capitalism What is capitalism? According to Adam Smith, both parties in a capitalist system, the buyer and the seller, act in a voluntary transaction to achieve the outcome that serves their self-interest. However, both parties cannot obtain what they want without delivering the needs of the other. In definition, capitalism is an economic system where properties can be controlled and owned by private sectors to suit their interest, which is to gain profits, while the demand and supply of goods and services set the market prices to serve the interest of the society.

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It has been long debated whether capitalism or socialism is more beneficial for a nation. Socialism is prevalent among countries such as China, Norway, Ireland, Denmark, Finland, and countless others. Capitalism is recognized in numerous nations like the United States of America, Germany, the United Kingdom, and South Korea. In comparison to capitalism, socialism contains various characteristics that are vital to the true well-being of society. Socialism’s focus is solely on the good of its citizens because it prevents business owners from obtaining complete power, still allows business protection plans, and essentially eliminates the idea of poverty.

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Capitalism and Socialism are types of systems throughout the world in different societies that have had their successful periods of time, but did not show to have the same success at other times during the course of history. Socialism’s theoretical essence says that ownership of property should be in the government’s hands meaning that government has more rights in the assets than individuals do while Capitalism gives to the individuals the right of property, creating a better society since the individuals can produce and purchase as they need to. Capitalism is the political and economic system where land, factories, companies, etc. are owned privately to produce profit for those who own them. Prices of services and goods vary from the costumer’s

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