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Which Idea is BetterPolitically, Capitalism is set to be the better system due the outcomes of practicing it. Morally, Communism seems to work better for better equality and tends to elimanate the class system at the stake of an authoritorian government. Both ideas tend to be hypocrite against there own values, both damage there class sytems as power is the main control. Both suffer heavy poor communities as such with capitalism being a practice for profit gain and competition,, and communism having no class system with a government in charge of all of the production and product. Currently, almost every free market is a mixed economy, that having the aspects of capitalism and socialist economic approaches. |
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Economic Approach and OutcomesEconomic and Profit gains is the main appraoch in a capitalist society, Priavte Ownership allows the owner or owners of there company take charge of there profit and production, for the expense of more proft. This however is met with competition with other companies that specialize in production of the same field, therefore, free market takes place since its free reing to whichever company comes out top without that much government intervention. Full ownership and distribution of wealth is the communist approach. The government controls the production, but rarely gets any profit since its more aligned towards producing as a use. With the little profit gain, its distributed equally with workers, common people, or poorer citizens. Communism gives back to those who dont work, while Capitalism gives back to those who achieve, usually its a reward for working. With communism, the economies tend to be terrrible since profit is rarely made and there is a lot of government intervention. With a Capitalist country, the profit gained increase GDP and value, which ultimately ends to be higher due to being the better competitor. |