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Government Capitalism, Socialism And Monopolies

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Capitalism & Socialism Government Capitalism, Socialism & Monopolies Evelyn R. Cotton BRCTC Capitalism, Socialism & Monopoly The differences between capitalism and socialism revolves around the role of the government and equality of economics. Capitalism is an economic and political system that is based …show more content…

One of the biggest benefits of competition in free markets is innovation: new, better and cheaper products and services, or better ways of providing them. Only companies faced with constant competition are pushed to innovate: think of electronics companies such as Apple and Samsung. ?Without competition Apple would have never created their IPod, Microsoft would have never created Windows, and Google would probably be non-existent. Competition is essential because it leads to one very important thing, innovation.? 1 And those that are protected from competition and smothered by government regulation will be the least innovative: think of health care or mail delivery.? The reality is competition is everywhere, I know competition is not encouraged in many schools, which to me seems like educators are depriving students of a valuable life skill (and fact). Sure you can tell kids/students that everyone is a winner, well what happens when they get out in the real world and realize that everyone is competing for that same job at that same company??2 A market economy is one where the distribution of resources and the trading of goods and services are through the entrusted decisions of many businesses and

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