...Capitalism vs. Communism Throughout history, there have been many systems developed in order to have a better society. Two of the most analyzed, and debated systems that have tired to change an economy for the best are communism, and capitalism. Communism, and capitalism have been compared on many levels, such as why they will or will not work, and which one works better. Throughout this essay I will concentrate on the differences, and similarities of how each operates, along with the benefits, and problems that each of them produces. Both of these economic systems theories came about around the same time, in the late 17th to mid18th centuries. One of the main contributor for capitalism was Adam Smith, writing The Wealth of a Nation in 1776, and Karl Marx for communism publishing the Communist Manifesto in 1848. These both were looked as a manual or guide for achieving such advancements. Communism called for the people to not be selfish and work for the benefits of the community rather for their well being. It asks them to see that what benefits the whole, benefits themselves. Capitalism on the other hand is focused on working for individual growth, and personal ownership to provide wealth for one's self. Communism plans to have a higher power or government control the economy to create a better way of living, by which all goods are equally distributed. As capitalism wants the government to not play a big role in the system, but instead wants it to be up to private ownership...
Words: 1788 - Pages: 8
...CAPITALISM VS. COMMUNISM Capitalism and communism are very different in their political and economic views. The two are economic systems that attempt to solve the social and economic problems faced by many people. They are the two most compared and contrasted of all economic systems, and are compared on many different levels. There are many social problems faced by people in many different countries around the globe some of these are poverty, crime, unemployment, war, and low education. The problem of meeting the needs of the people requires an economic system that can solve these social problems. Finding which one works the best can be an issue. A communist country would be controlled by the government, which is a command economy. A capitalist country would be controlled by the people, who elect representatives. Communism was first written about by Karl Marx and Frederick Engles. A communism, states that all people, regardless of race, gender, or occupation deserves the same rights and social placement. The community owns the resources and production of the country or area. It is said that in communist countries the profit of an enterprise is equally shared by all people, and that all means of production are controlled by the society. The society comes before any individuals in this type of economy, so individual freedoms are not focused on. Since communism is completely run by the government, the government decides the prices on all goods and the price structure of the...
Words: 763 - Pages: 4
...Communism vs. Capitalism In Karl Marx's Communist Manifesto, he describes the Communists as the party that "fights for the interests of the working class"(136), while in a Capitalist society, the "living person is dependent and has no individuality-----only capital is dependent and has individuality"(84). That is not the case of today's society once you take a closer view at the comparison and contrast of communist Vietnam versus the democratic United States of America through their economy systems, educational systems, judicial systems, and the life style of their citizens in general. In a capitalist, democratic nation such as the U.S., freedom gives us just about everything and anything that the Vietnamese do not have under their communist government. Contrary to what Karl Marx has written in his manifesto, the living people of a capitalist nation (i.e. USA) of today are more independent and possess more individualities than ever. Economic-wise, Americans are the most progressive people in the world. The U.S. government is not directing the flow of its economy, but the individual businesses of its people are. These people have all the rights in the world to improve their businesses, as long as they are conducting them under the legal guidelines of the government. Such freedom in a capitalist society gives the Americans much greater advantages over the Vietnamese in improving economic conditions. When we touch upon the subject of education, only eighty percent...
Words: 1072 - Pages: 5
...Communism versus Capitalism A capitalist government is better than a communist government for many reasons. The basic concepts of communism and capitalism contrast quite sharply. In communism, everyone is equal; therefore everyone receives the same amount of income. Communist societies are made up of one large state instead of many different states. All means of production and property are owned by the large state. The basic concepts of capitalism are quite different. There are many social classes, therefore not everyone is equal. People earn different amounts of income based on their job. People are allowed to own land and the means of production are not controlled by the government. Companies are able to raise or lower prices of items depending on whether they are high in demand as well. Communist societies have many strengths. They have a very strong army, there is free health care for everyone when it is needed, and there is no poverty. Everyone also has a job, food, a house, and an education. Jobs are administered to people based on their skill and the government makes decisions that are beneficial to the state. Although communist societies have many strengths, capitalist societies have many strengths that communist societies do not obtain. Anybody is able to be an owner of their own business and is able to become wealthy. Capitalist societies have freedom of choice which allows them to be different. People can think what they want to think instead of being forced...
Words: 582 - Pages: 3
...Liberal capitalism was as well known and tried system in Great Britain during the 19th century. However, around the late 19th century a new system began to appear, communism. These two systems were quite different when it came to their political and economic views. This new system gave rise to some believing that maybe it was time for Great Britain to change their former system of liberal capitalism to one that is more communist in nature. Others believed it was better to leave the system as it was. To decide on which would be better for the country one must first look at the ideas that lay behind both liberal capitalism and communism. One had to delve into the core of both systems and discover not only the positive implications, but also the possible negative implications as well. The term liberal capitalism is one that was well known throughout Great Britain. It was a system based upon the individual. It was a system that was primarily driven by free enterprise and the existence of classes. The government had very little say in what the market was like; this was known as a free market. The primary view was that this was the best form of economic system due to the fact that the individuals themselves set the amount of production and the prices of those products. David Ricardo believed that the wages received naturally fluctuated to meet the minimum subsistence requirements for workers. As he stated, “The market price of labour is the price which is really paid for it” (“Ricardo...
Words: 1022 - Pages: 5
...“Industrial Revolution” GKE Task 4 WGU Indiana The Industrial Revolution was the change from hand crafted products and small farming operations to machine manufactured products and large scale farms using more mechanical equipment. While the birthplace of the revolution was in Britain around 1760, one similar took place in America from 1790 to 1870. Britain had tried very hard to keep the monopoly on its industrial technology, however this couldn’t last forever. Some of the British saw the potential of profitable opportunities and took this knowledge abroad (Industrial Revolution, 2013) With any major change in a society has consequences. One social consequence of the Industrial Revolution was the division of social classes. Before, there were the very rich and the very poor. As factories and industry made production of goods more efficient, these goods were cheaper. People could now afford to buy everything they needed and still have money left over. They could now afford to enjoy leisure goods instead of only buying what they needed to survive. Thus, the emergence of the middle class. This class consisted of anyone with a decent job, shop clerks, accountants, managers and so on (Introduction to the Industrial Revolution). While the production of goods at a faster rate and larger quantity made them cheaper and more available had its advantages, the division of society had negative consequences as well. The use of technology on farms meant fewer...
Words: 789 - Pages: 4
...Assignment On Capitalism Program: M.com (2)years Smester: 3rd (Evening) TABLE OF CONTENTS · Introduction Of Capitalism. · Capitalism vs Socialism. · Capitalism vs Communism. · Types Of Capitalism. · Advantages Of Capitalism. · Disadvantages Of Capitalism. · Criticism On Capitalism. CAPITALISM An economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth. It is easy to forget that capitalism was coined not so long ago, in the mid-19th century, when the Industrial Revolution was in full swing, and individual entrepreneurs were creating new industries and amassing wealth. Terms for the other two major competing economic systems of the past two centuries— socialism and communism—were also coined around the same time. Also, about the same time it became common to designate all such coinages as “isms”: terms formed by adding the suffix -ism to a root word in order to expand its meaning to encompass a related system, theory, or practice. Thus from a fairly old word, capital, the relatively newer word, capitalism, was formed to describe the then emerging economies of the West. On the surface, the meaning of capitalism seems straightforward, referring to an economic system in which private individuals, rather than governments...
Words: 2595 - Pages: 11
...Genre of Capitalism Vs Communism Capitalism and Communism are two totally different economic systems. Capitalism is a much better economic system than Communism. Capitalism is an economic system characterized by freedom of the market and is the economic system where you do not have freedom because the government will make most of your decisions for you. Capitalism has many pros to go along with its economy. The government will change gradually, but is able to adjust to it with ease. Each person also has individual freedom with lack of government interference. We also have the freedom to choose what we want and when we want it. On the other hand, not everybody will have a job, and the government will not help him or her find one. If you do have a job, everyone will be getting paid the same amount of money as you do. It all depends on what you do, whom you work for, and how long you decide to work. Communism has many drastic chances at one time, but adjusting could be simple for most. The bad things about communism is that everybody has a job, but no matter how much you work or whom you work for, you will always be getting paid the same amount of money as everyone else. Another bad thing about communism is that consumers will not always get what they want because the government decides on what you sell; and what you purchase. As a Capitalist, when you go to the store to shop, you have a choice of what you want to buy. If you are communist, the government decides for you. Because...
Words: 453 - Pages: 2
...that America is truly run from the government and we have no choice; but, compared to other countries, America has a lot of freedom when it comes to the rights of the individuals. The economic system that the United States uses is capitalism. Capitalism is the economic system that is also known as the free market system, and is based off on private ownership, economic freedom, and fair competition. Other countries, however, use socialism as their economic system. Socialism is based on the principle that the government should operate some of the key enterprises that affect the welfare of the public. Finally, some countries choose to use communism as their economic system. Communism is based off of the principle that the government should operate and direct almost all enterprises. Clearly, these three economic systems are very different in the way that they operate. In this paper, I am going to compare and contrast the three types of economic systems: capitalism, socialism, and communism. Capitalism, also known as the free market system, is the economic system used by the United States. Because of capitalism, we have what are called fundamental rights. Fundamental rights are rights that the people have because of living in a capitalist economy. Capitalism gives the right to own a business and to keep the profits that are earned after taxes have been taken out. This means that if you earn money from a business, you get to keep it after you are taxed by the government. Obviously,...
Words: 2014 - Pages: 9
...Ideas: * Class segregation * Increase in gap between rich and poor * People are materialistic more than they are humane * Capitalism’s negative impact on society Conventions: * Colour * Clothing People’s Expressions * Symbolism * Layout * Medium Shot Resource Link: http://rwer.wordpress.com/2014/01/21/the-pernicious-impact-of-the-widening-wealth-gap/#more-14874 Visual texts have the power to convey strong messages while still being able to do so in a light hearted manner, keeping us the viewers informed but entertained. The untitled image published in a word press blog on the 21st January 2014 in an article written on the widening of the income gap, discusses segregation of class, widening gap between the rich and the poor as well as giving a negative impression on the capitalistic system through the use of colour, characterisation, symbolism, layout and positioning of the characters and objects. Class segregation One major idea that is presented in the image is that of the class separation between the rich and the poor, and this is specifically done through the clothing of the characters portrayed in the cartoon. The man carrying away all the cash in the wheelbarrow is dressed up in a smart jacket, hat and shoes, whilst the group of people stuck at the edge of the platform all have clothing that look similar to each other. This in effect is an entertaining yet informative approach to identifying the separation of...
Words: 1187 - Pages: 5
...By the time 1750 came around, American was experiencing what is known as the First Industrial Revolution (circa 1780-1850). It is hard now to fathom the idea of having to function economically without the use of factories, factory machines, and factory workers. By history shifting from the cottage industry, traditional agriculture, and manual labor into a factory-based manufacturing type systems made of complex machinery, constant technological expansion, and new energy sources and advanced in transportation, we evolved. The entire world evolved, soon to rely on industries to survive. For hundreds of years, life was focused on agriculture. Most people lived in countries because city development was minimal. Most families farmed their own land and hand-made all necessities they needed, including farm tools, clothing, furniture and traded for things they could not develop on their own. Some trade items became more demanding such as thread developed on a spinning wheel or textiles being developed by hand on a weaving loom. This demand is what began the need for more products for more profit. (Riane Eisler (2007)). A chain of inventions in Great Britain was created to develop an increase in the production of manufactured goods. People all over the country began to develop the need for more complex machinery that could complete the task quicker and more efficiently that human manual labor could provide by itself. Two significant rises of the Industrial Revolution are...
Words: 2162 - Pages: 9
...Capitalism vs. socialism: the great debate revislted October 11 Civics CHV2D1-02 Capitalism versus socialism : the great debate revislted Page1 -debate between two isms, soicalism and capitalism are far from over. -International agencies porvide hard evidenceto discuss these 2 isms -comparisons between before and after the important events of capitalism in Europe and comparison of excommunist countries provide us with enough fact which provides us with definate conclusions -Under communism ->economic decisons/property owned by national/publicly -over the past 15 years of the transition to capitalism-> basic industries taken over by European/Us corporations and by mafia billionaires or have been shut down -In bulgaria, Rumania and some other countries, their average capita growth over the past 15 years -> far below compared to 15 years under communism. -In Armenia, the number of scientific researchers -> 20000 to 5000 in 5 years(1990-1995) Page2 -By the mid 1990s, over 50% of population lived in poverty,homelessness in Russia(Capitalist). Economy = privatized ->taken over by russian gangsters (which was led by billinaire). -the transition to capitalism in russia led to over 15million premature deaths (which would not have happened if they remained as socialism). -intro of capitalism has weaken the system of public health ->caused death/ infectious disease -The big contributor to the AIDS ->russian criminal gangs (trade in heroin and...
Words: 366 - Pages: 2
...In a way, communism is an extreme form of socialism. Many countries have dominant socialist political parties but very few are truly communist. In fact, most countries - including staunch capitalist bastions like the U.S. and U.K. - have government programs that borrow from socialist principles. "Socialism" is sometimes used interchangeably with "communism" but the two philosophies have some stark differences. Most notably, while communism is a political system, socialism is primarily an economic system that can exist in various forms under a wide range of political systems. Comparison chart | |Communism |Socialism | |Philosophy |From each according to his ability, to each according to |From each according to his ability, to each according to| | |his needs. Free-access to the articles of consumption is |his contribution. Emphasis on profit being distributed | | |made possible by advances in technology that allow for |among the society or workforce to complement individual | | |super-abundance. |wages/salaries. | |Economic System |The means of production are held in common, negating the |The means of production are owned by public enterprises | | |concept of ownership in...
Words: 3092 - Pages: 13
...The United States, although they believed that they were doing the right thing by freeing Korea of communism, ended the war without a victory. President Truman said that there was, “no substitute for victory,” against communism, and that no victory would be equivalent to a loss (History.com Staff, 2009). Communism was not the only threat that the US was worried about. North Korea and Soviet Russia were both testing out destructive weapons, which made them dangerous. According to History.com, “They were sure that such a war would lead to Soviet aggression in Europe, the deployment of atomic weapons and millions of senseless deaths” (History.com Staff, 2009). Additionally, the war outlined a very important concept, that a war is not won by good intentions. Simply being right does not mean one will win, and being wrong does not mean one will lose. This event had impacted Canada in a surprisingly positive way. The Canadian army, more specifically...
Words: 1190 - Pages: 5
...of Historical Materialism (Superstructure vs Infrastructure) – Is part of the superstructure. * Therefore it reflects the class structure of the economic system – In capitalism, the state is the political guardian of the bourgeois society, the political agent of the economic ruling class = the instrument of class rule. * It will use both coercion and economic consensus to protect status quo, regardless of which party is in power. * 2nd Reason * State is Reformist: According to Marx, the most reformist parties (Labour) are most successful in protecting capitalism. (Hailsham Quote: ‘if you do not give the people reform…. revolution’) * Marxists reject the Parliamentary road to socialism - Revolution is true ‘people power’. State advocates to reform and therefore withering away of state expected in order to establish full communism. * Reforms can only alleviate the worst aspects of capitalism – they cannot, by definition, remove the exploitative roots of class conflict which will ultimately bring about the complete overthrow of capitalism. Therefore state loses its reason for existence and in order to establish communism, is irrelevant for the above reasons. * 3rd = Overarching reason * Marxist communism doesn’t demand for total equality but the abolition of class. * In a classless society – there is no need for dominant class hegemony or ideology – hence only under communism will we see ‘end of ideology’ in Marxist...
Words: 820 - Pages: 4
