0
Which economic system do you think is better capitalism or socialism explain your answer?
Wiki User
∙ 11y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
5 facts about capitalism?
There are five facts about capitalism. The five different facts of capitalism are popularity, better health, promoting social good, bring out the best in everyone and greater freedom.
Why is there capitalism?
Firstly, no one has pure capitalism. Secondly, you likely have capitalism because, relative to older forms of social organisation, capitalism has been far more effective and better for not only individuals but society as a whole. Thirdly, capitalism continues to survive, largely, because the system is conservative and the ruling classes in capitalism do not wish to make significant changes.
Is capitalism and communism the same and why?
No. Communism in the sense Marx, Engels, Lenin, Trotsky and others have meant it is in almost no way imaginable similar to capitalism, aside from the fact that both are better than the systems that came bfore them. Capitalism is better than feudalism and communism is better than capitalism. Communism in the sense most people mean it, Stalinism, has some more things in common with capitalism, both are very repressive and bureaucratic for example.
What are the Pro of capitalism?
Capitalism as a social system promotes individual rights. In capitalism, everyone is free to do as he or she pleases so long as their actions do not interfere with the rights of others. The government's power is limited to the protection of these rights (laissez-faire capitalism as a political system) and everyone can enjoy a fearless way of life. Continuing on the economic and political train of thought, capitalism has a 100% free market economy. You are allowed to enter or withdraw from it as you please and place items up for sale with no outside interference. This means that there is no income tax or anything of the sort. What you make is completely and entirely yours. Much of the criticism of capitalism stems from the thought that the rich will become richer and the poor will become poorer. What they fail to say is that the PRODUCTIVE rich will become richer under capitalism and the UNPRODUCTIVE poor will become poorer. Controversy also stems from the belief that only the selfish and corrupt can succeed in capitalism and that everyone has a duty to others. Those three points each represent different things: That everyone must be selfish to succeed in capitalism is true to an extent- so long as the "selfishness" is RATIONAL (see: Objectivism); that only the corrupt can succeed in capitalism is incorrect and is actually quite untrue- the corrupt will logically not have their products bought for they will, logically, be sub-par (see: nihilism); and that everyone has a duty to others is a fallacy that stems from the irrational fear that always seems to pervade anti-capitalist thought- upholding this doctrine of self-sacrifice can only lead to communism or socialism (see: Marxism as well). While it is true that capitalism will have a very wealthy upper-class and a very poor lower-class, there is no law that could exist in capitalism that would prohibit charitable foundations that still would continue to give to the poor; capitalism only says that you may not force one to donate. I hope this answers your question- and, for more information, do read up on Objectivism, a staunchly pro-capitalist philosophy.
Why is productivity important to economic growth?
because the better the productivity the better the nations economic growth.
Is socialism working better than capitalism?
no, socialism isn't better than capitalism because capitalism has a free market and people get rich easily.
What is better: socialism or capitalism?
capitalism
Why did the economy do better in the West Germany than in east Germany?
Because West Germany was based on free market capitalism while East Germany was based on Socialism
How does capitalism achieves key in economic goals?
Capitalism achieves economic growth through a free market. It thrives on competition between companied to keep prices low for consumers and promote better working conditions for employees. The United States is a regulated capitalist economy.
Can capitalism ever be replaced with a different socioeconomic system?
Even though, so far, socialism does not have as good a record of success as capitalism, that does not mean that people will necessarily be unable to make it work better in the future, or at least attempt to do so. Alternatively, civilization could collapse, leading to the replacement of capitalism by some kind of anarchy. Or, there could be some new economic system that no one has even conceived of as yet, but which some brilliant economist will devise in the future. All sorts of things are possible.
What has the author Thomas J Hughes written?
Thomas J. Hughes has written: 'Economic equity' -- subject(s): Christian sociology, Economic conditions, Economics 'State Socialism After the War: An Exposition of Complete State Socialism, what it Is: how it ..' 'His better self' -- subject(s): Accessible book
What are some similarities between anarchism and socialism?
Both of these ideologies emerged in their modern form during the Industrial Revolution and both were critical of industrial capitalism and its accompanying political structures. However, socialism is better thought of as an economic system and end-goal that various political ideologies (such as Democratic Socialism and Anarchism) aim to achieve. In general, anarchism is juxtaposed with socialist ideologies that are in favor of using the state apparatus to transition to a socialist economic system. Anarchism is critical of the state in its entirety, arguing that the state is illegitimate and, as a product of capitalism, the state needs to be dismantled during a socialist revolution. By contrast, non-anarchist socialists argue that the state must be utilized by the working class in some capacity to safeguard a worker's revolution against counter-revolutionary groups, and to organize the effort to construct a socialist economy. Democratic socialists tend to believe in the permanence of the state in any economic order, while Marxists take a middle ground where the state only has a limited role during the transition to socialism before making itself redundant and "withering away".
Which government is better socialism or communism?
= One View = Socialism is not a form of government; it is simply an economic system. On the other hand, Communism is an economic and POLITICAL system. = Another View = The struggle for power amongst groups or individuals is Politics. An entity engaged in this struggle is a Political Entity. One that has attained a high degree of control over it's internal and external affairs or sovereignty is a State. The organization and administration of public policy of a State is it's Government. Socialism and Communism in and of themselves are not types of Government. They are economic policies a State's Government or a society lacking a State can pursue. As to which one is better is a value judgment that people have to make themselves after comparing and contrasting them against each other.
What did Karl Marx mean by socialism?
Socialism means very different things depending on who you ask. Socialism itself, in its very basics, is an economic theory in which people have a more even spread of money between all of a nation's citizens than what one generally has in a capitalism. It's supposed to be a transitional period between capitalism and communism in Karl Marx's theory of societal progression, where people are not necessarily equal yet in what they have, but they have equal opportunity and can get help from the wealthy when they are poor because they are down on their luck. It's hard to delve too far into the topic without being one-sided. There are good things and bad things about every economic theory--capitalism, socialism, communism, even mercantilism--but descriptions of each tend to float towards making one sound much better than another. In the United States of America, when people, usually people who identify with the conservative or Republican ideologies, talk about socialism, they often mean when the central government decides to use their tax income from the citizens to support welfare projects which help the poor get back on their feet. People who support this use of taxpayer money say that it is more fair; people who are against this use of taxpayer money say that often poor people are lazy or will become lazy if they know that they will be supported by the government when they do not work.
What did Adam smith believed would result from the combination on of capitalism and laissez fair policy?
With free economy capitalism people could very well become successful as well as selfish and ungiving. Government involvement would allow for better control over who receives welfare or not.
5 facts about capitalism?
There are five facts about capitalism. The five different facts of capitalism are popularity, better health, promoting social good, bring out the best in everyone and greater freedom.
Did Karl Marx think capitalism was bad?
Yes, Karl Marx believed that capitalism was a flawed economic system that exploited workers and created social inequalities. He argued that capitalism prioritized profits over people's well-being and perpetuated class struggles. Marx advocated for the abolition of capitalism and the establishment of a communist society based on common ownership and equality.
