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Capitalism Vs. Socialism In The United States

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We have grown up in a society where we are told we can reach the American Dream if we put in our own hard work. That anything is possible at the touch of our fingertips. We are so use to these actions that they seem almost second nature to us all. To imagine America without these ideals is something that would be a foreign concept. While it is hard to please everyone and his or hers own individuality, Capitalism is the closest thing we have to achieving these ideals without limiting our freedoms. According to the Oxford Dictionary Capitalism is defined as an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by state. Though not accepted by all, Capitalism merits the …show more content…
Both sides are able to cause harm if taken too figuratively, but through history and natural reasoning I believe capitalism to be the better-fit system. Through a capitalistic system one can see economic growth more rapidly, keep motivated and merited and lastly, keep rights to property. This is because socialism devalues experts in specific fields. It takes away their professional knowledge and replaced it with someone in the capital to make the decision that has not put years of experience into the field. When we have experts working in their career fields we are able to create effective products and use the most current research to keep America up to speed. Ronald Reagan, notes, "Millions of individuals making their own decisions in the marketplace will always allocate resources better than any centralized government planning process”. This statement exemplifies how economic growth naturally works when spread out amongst the people. Capitalism provides a merit to the people and incentivizes, creating an overall higher standard of living for all of society. America spends less of their income on groceries than any other country in the world (the week). In Pakistan consumers spend 47 percent of their income on food yearly, while Americans spend roughly 6 percent of their income. We are giving a higher standard of living as result to incentives and merits. These actions keep people motivated to create and produce effective products, in return having a product that betters others and earns

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