Socialism Vs Capitalism
Socialism is a political and economic theory that supports the means of production, distribution, and exchange should be owned or regulated. Capitalism is a economic and political system in which a country's trade and industry are controlled by private owners for profit. The pros of socialism is that they believe that each person has equal rights and that everyone has the same social benefits. Some examples of the social benefits were education, health care, and care for the old people. The pros of capitalism is that they increase the chances in the marketplace for for personal economic growth. They increase it because they want entrepreneurs to increase their personal wealth. The cons of socialism is that it doesn’t reward entrepreneurs. Instead of rewarding them, they punish them by paying higher taxes. The cons of capitalism is that there is fair and unfair competition. Also unfair labor practices may occur since companies are driven by the profit motive.
Lina H.
Socialism is a political and economic theory that supports the means of production, distribution, and exchange should be owned or regulated. Capitalism is a economic and political system in which a country's trade and industry are controlled by private owners for profit. The pros of socialism is that they believe that each person has equal rights and that everyone has the same social benefits. Some examples of the social benefits were education, health care, and care for the old people. The pros of capitalism is that they increase the chances in the marketplace for for personal economic growth. They increase it because they want entrepreneurs to increase their personal wealth. The cons of socialism is that it doesn’t reward entrepreneurs. Instead of rewarding them, they punish them by paying higher taxes. The cons of capitalism is that there is fair and unfair competition. Also unfair labor practices may occur since companies are driven by the profit motive.
Lina H.